Apple Inc. (NASDAQ:AAPL) is Koshinski Asset Management Inc.’s 3rd Largest Position

Koshinski Asset Management Inc. increased its position in Apple Inc. (NASDAQ:AAPL) by 2.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 165,133 shares of the iPhone maker’s stock after acquiring an additional 3,556 shares during the quarter. Apple comprises 3.1% of Koshinski Asset Management Inc.’s investment portfolio, making the stock its 3rd largest holding. Koshinski Asset Management Inc.’s holdings in Apple were worth $36,635,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock valued at $349,532,608,000 after buying an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC grew its holdings in Apple by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock valued at $84,999,145,000 after buying an additional 6,307,413 shares in the last quarter. Norges Bank purchased a new position in Apple during the 4th quarter valued at about $46,868,648,000. Northern Trust Corp grew its holdings in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after buying an additional 13,137,968 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a report on Wednesday. TD Cowen dropped their price target on Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research report on Wednesday, May 21st. Evercore ISI reiterated an “outperform” rating and set a $250.00 price target on shares of Apple in a research report on Wednesday. Finally, Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $237.60.

Insider Activity

In related news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $231.59 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The stock has a market capitalization of $3.44 trillion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 2.44 and a beta of 1.16. The stock’s 50 day moving average price is $209.69 and its 200-day moving average price is $213.33.

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

Apple Dividend Announcement

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

Apple announced that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.