Apple Inc. $AAPL Shares Bought by Kerusso Capital Management LLC

Kerusso Capital Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 31.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 25,364 shares of the iPhone maker’s stock after purchasing an additional 6,119 shares during the quarter. Apple accounts for about 3.2% of Kerusso Capital Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Kerusso Capital Management LLC’s holdings in Apple were worth $6,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. REDW Wealth LLC raised its holdings in Apple by 1.5% during the fourth quarter. REDW Wealth LLC now owns 13,504 shares of the iPhone maker’s stock worth $3,671,000 after acquiring an additional 200 shares in the last quarter. Spectrum Investment Advisors Inc. raised its holdings in Apple by 124.2% during the fourth quarter. Spectrum Investment Advisors Inc. now owns 8,709 shares of the iPhone maker’s stock worth $2,368,000 after acquiring an additional 4,825 shares in the last quarter. Briaud Financial Planning Inc raised its holdings in Apple by 3.3% during the fourth quarter. Briaud Financial Planning Inc now owns 10,239 shares of the iPhone maker’s stock worth $2,784,000 after acquiring an additional 325 shares in the last quarter. WPG Advisers LLC raised its holdings in Apple by 5.9% during the fourth quarter. WPG Advisers LLC now owns 8,565 shares of the iPhone maker’s stock worth $2,328,000 after acquiring an additional 478 shares in the last quarter. Finally, Wealth Science Advisors LLC bought a new stake in Apple during the fourth quarter worth about $2,996,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on AAPL shares. Morgan Stanley reiterated an “overweight” rating and set a $330.00 target price (up from $315.00) on shares of Apple in a report on Friday, May 1st. Scotiabank set a $330.00 target price on Apple in a report on Monday, February 2nd. Stephens set a $315.00 target price on Apple in a report on Monday, January 26th. Bank of America upped their target price on Apple from $320.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Finally, DA Davidson reiterated a “neutral” rating and set a $270.00 target price on shares of Apple in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $308.74.

Apple Price Performance

NASDAQ:AAPL opened at $308.82 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average price is $269.64 and its two-hundred day moving average price is $268.63. The firm has a market capitalization of $4.54 trillion, a price-to-earnings ratio of 37.34, a P/E/G ratio of 2.66 and a beta of 1.06. Apple Inc. has a 12-month low of $193.46 and a 12-month high of $311.40.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.65 earnings per share. On average, analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a $0.27 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio is currently 13.06%.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the transaction, the chief executive officer owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the transaction, the chief financial officer owned 13,366 shares in the company, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 97,759 shares of company stock worth $24,964,305 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

Apple Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.