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Apple Inc. (NASDAQ:AAPL) Position Lessened by Kiley Juergens Wealth Management LLC

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Kiley Juergens Wealth Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 28.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 120,555 shares of the iPhone maker’s stock after selling 47,183 shares during the quarter. Apple accounts for about 9.4% of Kiley Juergens Wealth Management LLC’s investment portfolio, making the stock its 2nd biggest position. Kiley Juergens Wealth Management LLC’s holdings in Apple were worth $21,050,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Elk River Wealth Management LLC grew its stake in Apple by 49.0% in the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after purchasing an additional 54,989 shares in the last quarter. Piscataqua Savings Bank grew its stake in Apple by 1.5% in the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after purchasing an additional 684 shares in the last quarter. Fountainhead AM LLC grew its stake in Apple by 11.6% in the fourth quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock worth $7,732,000 after purchasing an additional 4,738 shares in the last quarter. Primoris Wealth Advisors LLC acquired a new position in Apple in the fourth quarter worth about $4,282,000. Finally, Red Door Wealth Management LLC grew its stake in Apple by 3.3% in the first quarter. Red Door Wealth Management LLC now owns 96,983 shares of the iPhone maker’s stock worth $16,934,000 after purchasing an additional 3,087 shares in the last quarter. 57.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $161.51 on Tuesday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The stock has a market cap of $2.61 trillion, a price-to-earnings ratio of 26.65, a PEG ratio of 2.11 and a beta of 1.23. The stock’s 50 day moving average price is $144.68 and its 200 day moving average price is $157.12. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 earnings per share. Equities research analysts anticipate that Apple Inc. will post 6.08 earnings per share for the current fiscal year.

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

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders 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 15.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Morgan Stanley decreased their price target on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Credit Suisse Group set a $166.00 target price on Apple in a research note on Friday. Deutsche Bank Aktiengesellschaft set a $175.00 target price on Apple in a research note on Monday. Fundamental Research decreased their target price on Apple from $179.32 to $175.24 and set an “average” rating for the company in a research note on Friday, May 6th. Finally, KeyCorp decreased their target price 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, eight have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.04.

Apple Profile

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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.

See Also

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