Apple Inc. $AAPL is Kingsman Wealth Management Inc.’s 10th Largest Position

Kingsman Wealth Management Inc. lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 36.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,902 shares of the iPhone maker’s stock after selling 15,513 shares during the quarter. Apple accounts for 3.4% of Kingsman Wealth Management Inc.’s portfolio, making the stock its 10th biggest holding. Kingsman Wealth Management Inc.’s holdings in Apple were worth $5,519,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ryan Investment Management Inc. bought a new stake in Apple during the second quarter valued at about $31,000. ROSS JOHNSON & Associates LLC grew its holdings in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the period. Conquis Financial LLC bought a new stake in Apple during the fourth quarter valued at about $63,000. LSV Asset Management bought a new stake in Apple during the fourth quarter valued at about $65,000. Finally, Elite Financial Inc. bought a new stake in Apple during the first quarter valued at about $58,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Down 1.6%

Shares of NASDAQ:AAPL opened at $254.04 on Friday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The business’s fifty day simple moving average is $236.75 and its 200-day simple moving average is $215.77. The company has a market capitalization of $3.77 trillion, a PE ratio of 38.55, a P/E/G ratio of 2.51 and a beta of 1.09. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same period last year, the business posted $1.40 EPS. The business’s revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is currently 15.78%.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,922 shares of company stock valued at $64,320,190. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

AAPL has been the subject of several recent research reports. Phillip Securities lowered Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target for the company. in a report on Thursday, September 11th. HSBC set a $220.00 price objective on Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $266.00 price objective on shares of Apple in a research note on Tuesday, August 26th. JPMorgan Chase & Co. upped their price objective on Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Finally, Morgan Stanley set a $298.00 price objective on Apple and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $248.29.

About Apple

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.