KMG Fiduciary Partners LLC Has $64.95 Million Holdings in Apple Inc. (NASDAQ:AAPL)

KMG Fiduciary Partners LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 278,746 shares of the iPhone maker’s stock after selling 6,872 shares during the period. Apple accounts for 5.6% of KMG Fiduciary Partners LLC’s portfolio, making the stock its largest position. KMG Fiduciary Partners LLC’s holdings in Apple were worth $64,948,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after buying an additional 42,282 shares during the period. Hutner Capital Management Inc. lifted its stake in Apple by 6.8% in the first quarter. Hutner Capital Management Inc. now owns 17,989 shares of the iPhone maker’s stock worth $3,085,000 after acquiring an additional 1,140 shares during the period. Strait & Sound Wealth Management LLC grew its holdings in Apple by 5.3% during the 1st quarter. Strait & Sound Wealth Management LLC now owns 67,203 shares of the iPhone maker’s stock worth $11,763,000 after acquiring an additional 3,387 shares in the last quarter. Northern Capital Management Inc. increased its position in Apple by 4.6% during the 1st quarter. Northern Capital Management Inc. now owns 13,133 shares of the iPhone maker’s stock valued at $2,252,000 after purchasing an additional 578 shares during the period. Finally, Catalytic Wealth RIA LLC increased its position in Apple by 43.3% during the 1st quarter. Catalytic Wealth RIA LLC now owns 103,925 shares of the iPhone maker’s stock valued at $17,821,000 after purchasing an additional 31,409 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock worth $92,007,745 over the last quarter. 0.06% of the stock is currently owned by insiders.

Apple Stock Down 0.5 %

Shares of NASDAQ:AAPL opened at $246.49 on Thursday. The company has a market capitalization of $3.73 trillion, a P/E ratio of 40.54, a P/E/G ratio of 2.42 and a beta of 1.23. The stock’s fifty day simple moving average is $231.24 and its 200-day simple moving average is $222.66. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $250.80. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.46 earnings per share. As a group, equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAPL. Loop Capital reduced their price target on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Wedbush restated an “outperform” rating and set a $300.00 price target on shares of Apple in a research report on Friday, November 29th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Tuesday. Finally, Rosenblatt Securities lifted their target price on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.78.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.