Kiker Wealth Management LLC Sells 457 Shares of Apple Inc. $AAPL

Kiker Wealth Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 7.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,692 shares of the iPhone maker’s stock after selling 457 shares during the period. Kiker Wealth Management LLC’s holdings in Apple were worth $1,168,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AAPL. Baker Boyer National Bank grew its holdings in Apple by 0.3% during the 2nd quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock valued at $3,695,000 after buying an additional 47 shares in the last quarter. Salus Financial Advisors LLC raised its holdings in shares of Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after acquiring an additional 49 shares in the last quarter. Red Tortoise LLC boosted its position in shares of Apple by 0.9% during the 2nd quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock valued at $1,173,000 after acquiring an additional 49 shares during the last quarter. SigFig Wealth Management LLC grew its holdings in shares of Apple by 2.8% in the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after purchasing an additional 50 shares in the last quarter. Finally, Shariaportfolio Inc. increased its position in Apple by 1.3% in the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock worth $820,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction dated 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 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. In the last three months, insiders have sold 224,300 shares of company stock valued at $57,586,933. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of several research reports. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Robert W. Baird set a $300.00 target price on shares of Apple in a research report on Friday, October 31st. DZ Bank upgraded Apple from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Tuesday, November 4th. The Goldman Sachs Group boosted their price objective on Apple from $279.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Wedbush reaffirmed an “outperform” rating on shares of Apple in a research note on Tuesday, October 21st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $278.22.

Apple Stock Up 2.2%

Shares of NASDAQ:AAPL opened at $275.25 on Wednesday. The firm has a market capitalization of $4.07 trillion, a PE ratio of 41.77, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The business has a 50 day simple moving average of $253.91 and a two-hundred day simple moving average of $225.75. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $277.32. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping 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 firm had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. During the same period in the prior year, the business posted $1.64 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, November 10th. Apple’s payout ratio is currently 13.92%.

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.