Kraft Davis & Associates LLC Has $1.13 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Kraft Davis & Associates LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,057 shares of the iPhone maker’s stock after selling 433 shares during the period. Kraft Davis & Associates LLC’s holdings in Apple were worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AAPL. Christopher J. Hasenberg Inc acquired a new position in shares of Apple during the 1st quarter worth $35,000. Fidelis Capital Partners LLC increased its position in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. bought a new position in Apple during the fourth quarter valued at about $39,000. Gilfoyle & Co LLC raised its holdings in Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares in the last quarter. Finally, University of Texas Texas AM Investment Managment Co. boosted its stake in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after acquiring an additional 368 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Down 0.1 %

AAPL opened at $225.89 on Tuesday. The firm has a market cap of $3.46 trillion, a price-to-earnings ratio of 35.13, a PEG ratio of 2.60 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The firm’s 50-day simple moving average is $219.17 and its 200-day simple moving average is $193.40.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 145.35% and a net margin of 26.44%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 earnings per share. Equities research analysts anticipate that Apple Inc. will post 6.61 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s payout ratio is currently 15.55%.

Apple declared that its board has initiated a stock buyback program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AAPL. Barclays cut their price objective on Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Piper Sandler boosted their price objective on shares of Apple from $190.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Canaccord Genuity Group raised their target price on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Rosenblatt Securities boosted their target price on shares of Apple from $260.00 to $261.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Loop Capital raised Apple from a “hold” rating to a “buy” rating and raised their price target for the company from $170.00 to $300.00 in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.63.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold a total of 188,884 shares of company stock worth $38,092,387 over the last 90 days. Insiders own 0.06% of the company’s stock.

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.