LifePro Asset Management Sells 2,354 Shares of Apple Inc. (NASDAQ:AAPL)

LifePro Asset Management reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 23.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,561 shares of the iPhone maker’s stock after selling 2,354 shares during the quarter. Apple comprises about 1.1% of LifePro Asset Management’s portfolio, making the stock its 28th biggest position. LifePro Asset Management’s holdings in Apple were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Flagstone Financial Management grew its position in shares of Apple by 0.9% in the 4th quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock valued at $1,173,000 after acquiring an additional 56 shares during the period. Hoese & Co LLP raised its stake in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares in the last quarter. Stableford Capital II LLC raised its stake in Apple by 0.3% in the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after purchasing an additional 59 shares in the last quarter. Kwmg LLC raised its position in shares of Apple by 0.6% in the 1st quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock valued at $1,825,000 after buying an additional 60 shares in the last quarter. Finally, Greylin Investment Management Inc raised its position in shares of Apple by 0.4% in the 1st quarter. Greylin Investment Management Inc now owns 16,711 shares of the iPhone maker’s stock valued at $2,866,000 after buying an additional 61 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Apple Price Performance

AAPL opened at $229.79 on Friday. The firm has a market cap of $3.52 trillion, a P/E ratio of 35.74, a PEG ratio of 2.60 and a beta of 1.24. The firm has a 50-day moving average of $221.05 and a 200 day moving average of $195.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 145.35%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 earnings per share. On average, research analysts expect that Apple Inc. will post 6.61 EPS for the current year.

Apple Announces Dividend

The business also recently declared 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 of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is currently 15.55%.

Apple declared that its Board of Directors has authorized a share repurchase program on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently issued reports on AAPL. Canaccord Genuity Group upped their price objective on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Oppenheimer boosted their target price on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 28th. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Moffett Nathanson initiated coverage on shares of Apple in a research note on Monday, August 19th. They set a “neutral” rating and a $211.00 target price on the stock. Finally, Rosenblatt Securities increased their target price on shares of Apple from $260.00 to $261.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $237.30.

Insider Activity at Apple

In related news, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by company insiders.

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.