Lutz Financial Services LLC Purchases New Position in Apple Inc. (NASDAQ:AAPL)

Lutz Financial Services LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,488 shares of the iPhone maker’s stock, valued at approximately $1,311,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bluestem Financial Advisors LLC boosted its position in Apple by 5,935.2% in the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 229,929 shares during the last quarter. HBC Financial Services PLLC boosted its holdings in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the last quarter. Ramsey Quantitative Systems acquired a new stake in Apple during the 2nd quarter valued at approximately $55,000. Morgan Dempsey Capital Management LLC purchased a new stake in Apple during the 3rd quarter worth approximately $55,000. Finally, Newfound Research LLC acquired a new position in shares of Apple in the 3rd quarter valued at approximately $67,000. Hedge funds and other institutional investors own 57.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AAPL. Citigroup restated a “buy” rating and issued a $175.00 price target on shares of Apple in a research note on Tuesday, November 8th. Canaccord Genuity Group dropped their target price on shares of Apple from $200.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday. Sanford C. Bernstein reduced their price target on shares of Apple from $170.00 to $125.00 in a research report on Monday, January 9th. Credit Suisse Group reissued a “buy” rating and issued a $184.00 price objective on shares of Apple in a report on Wednesday. Finally, Wedbush reduced their target price on Apple from $200.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, January 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has assigned 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 price target of $170.04.

Apple Stock Performance

AAPL opened at $135.27 on Friday. The business has a 50 day moving average price of $138.95 and a two-hundred day moving average price of $148.10. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The company has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61.

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

Apple Announces Dividend

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

Insider Buying and Selling

In other Apple news, CFO Luca Maestri sold 176,299 shares of the company’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 transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Chris Kondo sold 20,200 shares of Apple 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 directly owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The shares were 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 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. 0.06% of the stock is currently owned by insiders.

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

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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