Lincoln Capital Corp Trims Stock Position in Apple Inc. (NASDAQ:AAPL)

Lincoln Capital Corp decreased its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,723 shares of the iPhone maker’s stock after selling 159 shares during the period. Apple accounts for about 5.8% of Lincoln Capital Corp’s holdings, making the stock its 4th biggest holding. Lincoln Capital Corp’s holdings in Apple were worth $14,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Bull Oak Capital LLC boosted its position in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new position in shares of Apple in the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc lifted its stake in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. Cordant Inc. boosted its position in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares in the last quarter. Finally, Sage Financial Group Inc. acquired a new stake in Apple during the second quarter worth approximately $206,000. 67.73% of the stock is currently owned by institutional investors.

Apple Trading Up 1.1 %

NASDAQ:AAPL opened at $258.20 on Wednesday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $258.21. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm’s 50 day moving average is $235.45 and its 200 day moving average is $226.34. The stock has a market capitalization of $3.90 trillion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last issued its 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. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 earnings per share. Sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. Apple’s dividend payout ratio is presently 16.45%.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock worth $117,004,745 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent analyst reports. Piper Sandler reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Maxim Group boosted their target price on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Wedbush restated an “outperform” rating and issued a $300.00 price target on shares of Apple in a report on Friday, November 29th. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and lifted their price target for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Finally, Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $236.78.

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.