LGT Group Foundation Has $227.36 Million Position in Apple Inc. (NASDAQ:AAPL)

LGT Group Foundation decreased its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 18.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,662,937 shares of the iPhone maker’s stock after selling 375,316 shares during the quarter. Apple makes up 6.9% of LGT Group Foundation’s investment portfolio, making the stock its 2nd largest position. LGT Group Foundation’s holdings in Apple were worth $227,357,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CFS Investment Advisory Services LLC lifted its holdings in Apple by 18,263.5% during the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after purchasing an additional 7,416,445 shares in the last quarter. Spence Asset Management purchased a new stake in Apple during the 2nd quarter worth about $49,000. HBC Financial Services PLLC lifted its holdings in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares in the last quarter. Emerson Wealth LLC lifted its holdings in Apple by 27.0% during the 2nd quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 110 shares in the last quarter. Finally, Darrow Company Inc. purchased a new stake in Apple during the 2nd quarter worth about $107,000. Institutional investors own 57.72% of the company’s stock.

Apple Stock Down 2.2 %

Shares of NASDAQ:AAPL opened at $148.01 on Tuesday. The stock has a fifty day simple moving average of $146.78 and a two-hundred day simple moving average of $149.71. The stock has a market capitalization of $2.35 trillion, a price-to-earnings ratio of 24.22, a PEG ratio of 1.93 and a beta of 1.25. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.02. Apple had a return on equity of 160.90% and a net margin of 25.31%. The firm had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. During the same quarter in the previous year, the business earned $1.24 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. On average, research analysts anticipate that Apple Inc. will post 6.26 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio is currently 15.06%.

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $17,259,454.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Deirdre O’brien sold 8,053 shares of Apple stock in a transaction on Monday, October 17th. The stock was sold at an average price of $142.45, for a total value of $1,147,149.85. Following the completion of the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at $19,414,510.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. Insiders sold 360,651 shares of company stock worth $53,703,645 over the last quarter. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent analyst reports. Itau BBA Securities assumed coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target on the stock. KeyCorp reissued a “buy” rating and set a $175.00 price objective on shares of Apple in a report on Tuesday, November 8th. Monness Crespi & Hardt assumed coverage on Apple in a report on Thursday, September 8th. They set a “buy” rating and a $174.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and set a $189.00 price objective on shares of Apple in a report on Tuesday, November 8th. Finally, UBS Group set a $180.00 price target on Apple in a research report on Wednesday, November 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $176.26.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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