Kennon Green & Company LLC acquired a new position in Apple Inc. (NASDAQ:AAPL – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,228 shares of the iPhone maker’s stock, valued at approximately $549,000.
Several other institutional investors have also recently modified their holdings of AAPL. IFM Investors Pty Ltd raised its stake in shares of Apple by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after purchasing an additional 435,891 shares during the last quarter. Ironwood Wealth Management LLC. raised its position in Apple by 0.4% during the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after acquiring an additional 1,040 shares in the last quarter. Markel Corp raised its position in Apple by 0.7% during the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after acquiring an additional 8,450 shares in the last quarter. Camden Capital LLC raised its position in Apple by 9.2% during the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after acquiring an additional 13,200 shares in the last quarter. Finally, Harbor Island Capital LLC raised its position in Apple by 0.3% during the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after acquiring an additional 400 shares in the last quarter. 57.60% of the stock is currently owned by hedge funds and other institutional investors.
Apple Stock Performance
Shares of Apple stock opened at $167.63 on Thursday. Apple Inc. has a one year low of $124.17 and a one year high of $176.15. The company has a market cap of $2.65 trillion, a price-to-earnings ratio of 28.46, a PEG ratio of 2.19 and a beta of 1.30. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.89 and a current ratio of 0.94. The business’s 50 day moving average price is $156.28 and its 200 day moving average price is $146.78.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 13th were given a $0.23 dividend. The ex-dividend date was Friday, February 10th. This represents a $0.92 dividend on an annualized basis and a yield of 0.55%. This is an increase from Apple’s previous quarterly dividend of $0.17. Apple’s payout ratio is currently 15.62%.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on AAPL. Barclays lifted their price target on Apple from $133.00 to $145.00 and gave the company an “equal weight” rating in a research report on Friday, February 3rd. Rosenblatt Securities lifted their price target on Apple from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. StockNews.com assumed coverage on Apple in a research report on Thursday, March 16th. They set a “hold” rating for the company. Wedbush reissued an “outperform” rating and issued a $205.00 price objective on shares of Apple in a report on Monday. Finally, DA Davidson raised their price objective on Apple from $167.00 to $173.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $169.82.
Insider Buying and Selling at Apple
In other Apple news, CFO Luca Maestri sold 69,996 shares of Apple stock in a transaction on Thursday, April 13th. The stock was sold at an average price of $165.25, for a total value of $11,566,839.00. Following the sale, the chief financial officer now owns 107,661 shares in the company, valued at $17,790,980.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Jeffrey E. Williams sold 77,817 shares of the business’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $166.11, for a total value of $12,926,181.87. Following the sale, the chief operating officer now owns 489,816 shares in the company, valued at approximately $81,363,335.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Luca Maestri sold 69,996 shares of the business’s stock in a transaction on Thursday, April 13th. The shares were sold at an average price of $165.25, for a total value of $11,566,839.00. Following the completion of the sale, the chief financial officer now owns 107,661 shares in the company, valued at approximately $17,790,980.25. The disclosure for this sale can be found here. Insiders have sold 435,437 shares of company stock worth $70,994,677 over the last quarter. 0.06% of the stock is currently owned by company insiders.
About Apple
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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