Apple Inc. (NASDAQ:AAPL) is Key Financial Inc’s Largest Position

Key Financial Inc increased its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 4.6% during the 1st quarter, Holdings reports. The fund owned 97,718 shares of the iPhone maker’s stock after acquiring an additional 4,288 shares during the period. Apple accounts for about 8.5% of Key Financial Inc’s holdings, making the stock its largest position. Key Financial Inc’s holdings in Apple were worth $17,063,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AAPL. Cardinal Capital Management Inc. lifted its stake in Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares in the last quarter. Shore Point Advisors LLC acquired a new stake in Apple in the 4th quarter valued at about $41,000. St. James Investment Advisors LLC acquired a new stake in Apple in the 4th quarter valued at about $57,000. Econ Financial Services Corp acquired a new stake in Apple in the 4th quarter valued at about $58,000. Finally, Emerson Wealth LLC raised its position in Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 320 shares in the last quarter. Institutional investors and hedge funds own 57.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AAPL shares. Sanford C. Bernstein set a $170.00 price target on Apple in a research report on Monday, May 2nd. Fundamental Research reduced their price target on Apple from $179.32 to $175.24 and set an “average” rating on the stock in a research report on Friday, May 6th. Barclays increased their price target on Apple from $166.00 to $169.00 and gave the company a “maintains” rating in a research report on Friday. The Goldman Sachs Group set a $139.00 price target on Apple in a research report on Friday. Finally, KeyCorp cut their target price on Apple from $191.00 to $173.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.04.

Insider Activity

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

Apple Trading Up 3.3 %

Shares of AAPL stock opened at $162.51 on Friday. 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 $144.31 and its two-hundred day moving average is $157.31. The company has a market capitalization of $2.63 trillion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $1.30 EPS. Equities analysts forecast that Apple Inc. will post 6.09 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be issued a $0.23 dividend. The ex-dividend date is Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.57%. Apple’s dividend payout ratio is currently 14.94%.

Apple declared that its Board of Directors has initiated a stock repurchase program on Thursday, April 28th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Apple Company 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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