Kingsview Wealth Management LLC Increases Stake in Apple Inc. (NASDAQ:AAPL)

Kingsview Wealth Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 5.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 576,996 shares of the iPhone maker’s stock after purchasing an additional 27,610 shares during the quarter. Apple accounts for 2.8% of Kingsview Wealth Management LLC’s portfolio, making the stock its 2nd biggest position. Kingsview Wealth Management LLC’s holdings in Apple were worth $144,491,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Drystone LLC bought a new position in Apple during the 4th quarter valued at approximately $25,000. Bull Oak Capital LLC grew its stake in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the period. SPX Gestao de Recursos Ltda purchased a new position in shares of Apple during the 3rd quarter valued at $71,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple during the third quarter valued at approximately $77,000. Finally, ARK Investment Management LLC purchased a new position in Apple during the 3rd quarter valued at approximately $110,000. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

AAPL stock opened at $198.85 on Thursday. The firm has a market capitalization of $2.99 trillion, a P/E ratio of 31.56, a P/E/G ratio of 2.44 and a beta of 1.26. The business’s 50-day moving average is $224.31 and its two-hundred day moving average is $231.59. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AAPL shares. KeyCorp lowered their target price on shares of Apple from $200.00 to $170.00 and set an “underweight” rating for the company in a report on Tuesday. Bank of America lowered their target price on shares of Apple from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Moffett Nathanson reaffirmed a “sell” rating and set a $188.00 target price (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. JPMorgan Chase & Co. raised their price target on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Raymond James increased their target price on Apple to $250.00 and gave the company a “buy” rating in a report on Friday, April 4th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $240.26.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. The trade was a 3.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 182,451 shares of company stock worth $40,818,720 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Profile

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.