Apple Inc. (NASDAQ:AAPL) Shares Acquired by Lmcg Investments LLC

Lmcg Investments LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 1.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 316,521 shares of the iPhone maker’s stock after purchasing an additional 3,747 shares during the period. Apple accounts for 3.9% of Lmcg Investments LLC’s holdings, making the stock its 2nd biggest holding. Lmcg Investments LLC’s holdings in Apple were worth $66,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Bellwether Advisors LLC increased its holdings in shares of Apple by 387.3% during the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares during the period. Gentry Private Wealth LLC acquired a new stake in Apple in the second quarter worth about $876,000. WT Asset Management Ltd bought a new position in Apple in the 2nd quarter valued at about $80,057,000. TD Asset Management Inc increased its stake in Apple by 10.3% during the 2nd quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock valued at $3,526,874,000 after buying an additional 1,557,848 shares during the period. Finally, Councilmark Asset Management LLC bought a new stake in shares of Apple during the 1st quarter worth about $11,776,000. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AAPL shares. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and raised their price objective for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Piper Sandler Companies reiterated a “neutral” rating and set a $225.00 price target (up from $190.00) on shares of Apple in a research report on Tuesday, July 9th. TD Cowen upped their price objective on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. New Street Research reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Finally, Bank of America reiterated a “buy” rating and issued a $256.00 price target on shares of Apple in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.23.

Apple Stock Down 1.3 %

Apple stock opened at $222.91 on Monday. The company has a market capitalization of $3.39 trillion, a PE ratio of 36.66, a PEG ratio of 2.41 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The firm’s fifty day moving average is $227.18 and its 200 day moving average is $212.64. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 145.09%. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the firm posted $1.46 EPS. Apple’s revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 7.48 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 11th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s payout ratio is 16.45%.

Insider Activity

In related news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 417,924 shares of company stock worth $94,142,399 over the last quarter. Insiders own 0.06% of the company’s stock.

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.