Kestra Advisory Services LLC Sells 11,448 Shares of Apple Inc. (NASDAQ:AAPL)

Kestra Advisory Services LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.5% in the first quarter, HoldingsChannel reports. The firm owned 2,194,536 shares of the iPhone maker’s stock after selling 11,448 shares during the period. Apple makes up 4.0% of Kestra Advisory Services LLC’s investment portfolio, making the stock its largest position. Kestra Advisory Services LLC’s holdings in Apple were worth $383,188,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Daniels&Tansey LLP lifted its position in shares of Apple by 1.6% in the fourth quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock worth $685,000 after purchasing an additional 60 shares in the last quarter. Donald L. Hagan LLC lifted its position in Apple by 0.3% in the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after buying an additional 61 shares in the last quarter. Goodwin Daniel L boosted its stake in shares of Apple by 0.5% during the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after buying an additional 62 shares during the period. Opus Capital Group LLC grew its holdings in shares of Apple by 0.3% during the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after acquiring an additional 63 shares in the last quarter. Finally, Norwood Financial Corp increased its stake in shares of Apple by 0.9% in the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 57.98% of the company’s stock.

Apple Trading Up 0.4 %

AAPL stock opened at $157.35 on Friday. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. The business’s 50 day moving average is $143.81 and its 200-day moving average is $157.52. The firm has a market cap of $2.55 trillion, a P/E ratio of 25.54, a P/E/G ratio of 1.97 and a beta of 1.19.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. The firm had revenue of $97.28 billion for the quarter, compared to analysts’ expectations of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 earnings per share. Equities analysts anticipate that Apple Inc. will post 6.09 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.58%. Apple’s dividend payout ratio is currently 14.94%.

Apple declared that its board has approved a share repurchase program on Thursday, April 28th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have commented on AAPL shares. Citigroup lowered their target price on Apple from $200.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. Credit Suisse Group set a $169.00 price objective on shares of Apple in a research report on Friday, April 29th. Bank of America decreased their target price on shares of Apple from $200.00 to $185.00 in a research report on Tuesday. Barclays cut their price target on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 13th. Finally, KeyCorp decreased their price target on Apple from $191.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.82.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the completion of the transaction, the senior vice president now owns 452,334 shares in the company, valued at $73,151,454.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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