Apple Inc. (NASDAQ:AAPL) Shares Sold by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 3.3% during the second quarter, Holdings Channel.com reports. The firm owned 49,276 shares of the iPhone maker’s stock after selling 1,682 shares during the period. Apple makes up 2.3% of Lebenthal Global Advisors LLC’s holdings, making the stock its 10th biggest holding. Lebenthal Global Advisors LLC’s holdings in Apple were worth $10,378,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares in the last quarter. Norges Bank acquired a new position in shares of Apple in the 4th quarter worth $33,912,466,000. Wellington Management Group LLP lifted its position in Apple by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after buying an additional 2,096,360 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Apple by 2.0% during the 4th quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock valued at $10,531,834,000 after acquiring an additional 1,067,587 shares during the last quarter. Finally, Capital International Investors raised its stake in shares of Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after buying an additional 2,474,887 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated 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 sale, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of Apple 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 directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock worth $23,723,887 over the last three months. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AAPL shares. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and boosted their target price for the company from $170.00 to $300.00 in a research report on Monday, July 15th. Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday. Moffett Nathanson assumed coverage on shares of Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price objective for the company. Finally, StockNews.com upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $238.76.

Apple Stock Performance

Shares of AAPL stock opened at $227.52 on Friday. The firm has a market cap of $3.49 trillion, a P/E ratio of 35.38, a PEG ratio of 2.66 and a beta of 1.24. The stock’s 50-day moving average is $222.05 and its two-hundred day moving average is $201.39. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23.

Apple (NASDAQ:AAPL) last released 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. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 EPS. Analysts predict that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

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.