Kinsale Capital Group Inc. Has $14.07 Million Holdings in Apple Inc. $AAPL

Kinsale Capital Group Inc. grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,430 shares of the iPhone maker’s stock after acquiring an additional 2,568 shares during the quarter. Apple comprises 2.3% of Kinsale Capital Group Inc.’s holdings, making the stock its 11th largest holding. Kinsale Capital Group Inc.’s holdings in Apple were worth $14,068,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. First National Bank of Hutchinson raised its stake in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Eagle Capital Management LLC boosted its position in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after buying an additional 272 shares during the last quarter. Brighton Jones LLC boosted its position in shares of Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after buying an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after buying an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE grew its holdings in Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after buying an additional 1,155 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Down 1.8%

Shares of NASDAQ:AAPL opened at $303.42 on Tuesday. The company has a market capitalization of $4.46 trillion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 2.65 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The business has a fifty day moving average price of $309.40 and a two-hundred day moving average price of $281.90. Apple Inc. has a 1 year low of $201.68 and a 1 year high of $344.57.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.13. The firm had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business’s revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm posted $1.57 EPS. Analysts forecast that Apple Inc. will post 8.8 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, August 10th. Apple’s dividend payout ratio (DPR) is 12.39%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AAPL. BNP Paribas Exane upgraded Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research note on Friday, April 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Apple in a research note on Wednesday, July 15th. JPMorgan Chase & Co. lowered their target price on shares of Apple from $345.00 to $340.00 and set an “overweight” rating for the company in a report on Friday. KGI Securities lowered shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target on the stock. in a research report on Monday, June 22nd. Finally, HSBC upgraded shares of Apple from a “hold” rating to a “buy” rating and boosted their price target for the stock from $260.00 to $366.00 in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $331.60.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple
• Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play?
• Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices

Insider Transactions at Apple

In other Apple news, insider Ben Borders sold 116 shares of Apple stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.06% of the company’s stock.

Apple Company 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.