Koshinski Asset Management Inc. Raises Stock Position in Apple Inc. $AAPL

Koshinski Asset Management Inc. raised its position in Apple Inc. (NASDAQ:AAPL) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,911 shares of the iPhone maker’s stock after purchasing an additional 778 shares during the quarter. Apple accounts for approximately 2.6% of Koshinski Asset Management Inc.’s holdings, making the stock its 4th biggest holding. Koshinski Asset Management Inc.’s holdings in Apple were worth $34,128,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC lifted its stake in shares of Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after acquiring an additional 205,656,808 shares during the last quarter. Nuveen LLC bought a new stake in shares of Apple during the first quarter worth $17,472,482,000. Northern Trust Corp lifted its position in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Amundi boosted its stake in shares of Apple by 27.4% during the first quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock valued at $13,870,795,000 after purchasing an additional 14,651,321 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Apple by 14.3% during the fourth 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 purchasing an additional 13,137,968 shares during the period. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Evercore ISI lifted their price objective on shares of Apple from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, October 31st. TD Cowen raised their target price on shares of Apple from $275.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Phillip Securities downgraded shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target for the company. in a research note on Thursday, September 11th. Melius increased their price objective on Apple from $290.00 to $345.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Melius Research set a $345.00 price objective on Apple in a report on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $278.22.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $272.41 on Monday. The firm has a 50 day moving average of $255.92 and a 200 day moving average of $227.05. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $4.03 trillion, a price-to-earnings ratio of 41.34, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $277.32.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 EPS. On average, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s payout ratio is 13.92%.

Insiders Place Their Bets

In related news, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the transaction, the chief financial officer owned 8,765 shares in the company, valued at $2,168,373.35. The trade was a 32.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 228,052 shares of company stock valued at $58,604,588 in 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.