Lehman & Derafelo Financial Resources LLC Lowers Stock Position in Apple Inc. (NASDAQ:AAPL)

Lehman & Derafelo Financial Resources LLC reduced its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 3.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,424 shares of the iPhone maker’s stock after selling 1,345 shares during the quarter. Apple comprises approximately 1.8% of Lehman & Derafelo Financial Resources LLC’s portfolio, making the stock its 12th biggest holding. Lehman & Derafelo Financial Resources LLC’s holdings in Apple were worth $5,587,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. Ramsey Quantitative Systems purchased a new position in shares of Apple during the second quarter worth approximately $55,000. Morgan Dempsey Capital Management LLC purchased a new position in shares of Apple during the third quarter worth approximately $55,000. HBC Financial Services PLLC raised its stake in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares in the last quarter. Newfound Research LLC purchased a new position in shares of Apple during the third quarter worth approximately $67,000. Finally, Emerson Wealth LLC boosted its holdings in Apple by 27.0% in the second quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 110 shares in the last quarter. 57.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AAPL shares. UBS Group set a $180.00 price target on shares of Apple in a report on Thursday, January 12th. Oppenheimer cut their price target on shares of Apple from $190.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, December 12th. Evercore ISI lifted their price target on shares of Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, September 20th. DA Davidson cut their price target on shares of Apple to $167.00 in a report on Thursday, December 1st. Finally, StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $171.22.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $135.94 on Wednesday. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $179.61. The business has a 50-day simple moving average of $139.18 and a two-hundred day simple moving average of $148.28. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88. The firm has a market cap of $2.16 trillion, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The business had revenue of $90.15 billion during the quarter, compared to the consensus estimate of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 EPS. On average, analysts expect that Apple Inc. will post 6.19 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.68%. Apple’s dividend payout ratio is currently 15.06%.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Apple news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the transaction, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

About Apple

(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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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