Lane & Associates LLC Has $4.03 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Lane & Associates LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 19,145 shares of the iPhone maker’s stock after purchasing an additional 128 shares during the quarter. Apple comprises approximately 2.4% of Lane & Associates LLC’s holdings, making the stock its 9th biggest position. Lane & Associates LLC’s holdings in Apple were worth $4,032,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital International Investors boosted its stake in shares of Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares during the period. Jennison Associates LLC boosted its stake in Apple by 1.7% in the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after purchasing an additional 485,873 shares during the period. Swedbank AB boosted its stake in Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after purchasing an additional 2,359,409 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Apple by 16.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock valued at $3,085,427,000 after purchasing an additional 2,594,138 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Apple by 2.5% in the 1st quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock valued at $2,951,297,000 after purchasing an additional 415,186 shares during the period. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Thursday, September 19th. Evercore ISI restated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Barclays reaffirmed an “underweight” rating and issued a $186.00 price objective on shares of Apple in a report on Tuesday, October 1st. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Tuesday, September 10th. Finally, Raymond James lifted their price objective on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.91.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock worth $114,786,399 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 0.4 %

NASDAQ AAPL opened at $231.41 on Friday. The business’s 50-day moving average price is $226.86 and its two-hundred day moving average price is $210.34. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The firm has a market capitalization of $3.55 trillion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same quarter in the prior year, the company earned $1.26 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts expect that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is 15.55%.

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.