Kimelman & Baird LLC Acquires Shares of 312,959 Apple Inc. (NASDAQ:AAPL)

Kimelman & Baird LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL) in the second quarter, Holdings Channel reports. The fund bought 312,959 shares of the iPhone maker’s stock, valued at approximately $65,915,000. Apple makes up approximately 5.4% of Kimelman & Baird LLC’s portfolio, making the stock its 2nd largest holding.

A number of other institutional investors also recently modified their holdings of AAPL. Fidelis Capital Partners LLC raised its stake in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares in the last quarter. Access Investment Management LLC bought a new position in Apple in the 1st quarter valued at about $140,000. Hoese & Co LLP raised its position in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares in the last quarter. Sage Financial Group Inc. bought a new stake in shares of Apple during the 2nd quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC bought a new position in Apple in the second quarter valued at approximately $208,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $225.00 on Friday. The business has a 50-day simple moving average of $226.96 and a 200 day simple moving average of $215.60. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.21 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Loop Capital cut their target price on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Moffett Nathanson began coverage on Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price objective on the stock. Tigress Financial increased their target price on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

Insider Activity

In other news, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 35.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 404,040 shares of company stock worth $91,062,512 over the last three months. 0.06% of the stock is currently owned by insiders.

Apple Company 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.