Lion Street Advisors LLC Cuts Holdings in Apple Inc. (NASDAQ:AAPL)

Lion Street Advisors LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,717 shares of the iPhone maker’s stock after selling 1,461 shares during the quarter. Apple comprises 2.2% of Lion Street Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Lion Street Advisors LLC’s holdings in Apple were worth $6,225,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Granite Investment Partners LLC boosted its position in Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Truist Financial Corp boosted its position in shares of Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. EP Wealth Advisors LLC boosted its position in shares of Apple by 5.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after purchasing an additional 95,235 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Apple by 34.9% during the 3rd quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock worth $46,650,000 after purchasing an additional 51,842 shares in the last quarter. Finally, Bellwether Advisors LLC boosted its position in shares of Apple by 387.3% during the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This trade represents a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 over the last three months. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Apple stock opened at $237.33 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.59 trillion, a PE ratio of 39.03, a P/E/G ratio of 2.30 and a beta of 1.24. The firm has a fifty day simple moving average of $229.02 and a two-hundred day simple moving average of $219.81. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.81.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 earnings per share. Research analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Moffett Nathanson cut their price objective on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. Maxim Group increased their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. UBS Group increased their price objective on shares of Apple to $236.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. New Street Research reissued a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Finally, Citigroup increased their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $235.68.

Apple 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.