Lokken Investment Group LLC Sells 93 Shares of Apple Inc. (NASDAQ:AAPL)

Lokken Investment Group LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,356 shares of the iPhone maker’s stock after selling 93 shares during the quarter. Apple accounts for about 4.2% of Lokken Investment Group LLC’s investment portfolio, making the stock its 4th largest holding. Lokken Investment Group LLC’s holdings in Apple were worth $5,500,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Starfox Financial Services LLC lifted its position in Apple by 21.5% in the 4th quarter. Starfox Financial Services LLC now owns 1,900 shares of the iPhone maker’s stock worth $247,000 after buying an additional 336 shares in the last quarter. Arista Wealth Management LLC increased its position in Apple by 1.0% in the 1st quarter. Arista Wealth Management LLC now owns 26,680 shares of the iPhone maker’s stock worth $4,399,000 after purchasing an additional 261 shares during the last quarter. Factory Mutual Insurance Co. increased its position in Apple by 5.2% in the 4th quarter. Factory Mutual Insurance Co. now owns 2,340,129 shares of the iPhone maker’s stock worth $304,053,000 after purchasing an additional 115,929 shares during the last quarter. Brogan Financial Inc. acquired a new position in Apple in the 4th quarter worth about $1,874,000. Finally, Peddock Capital Advisors LLC increased its position in Apple by 0.8% in the 1st quarter. Peddock Capital Advisors LLC now owns 115,970 shares of the iPhone maker’s stock worth $19,123,000 after purchasing an additional 901 shares during the last quarter. 58.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on AAPL shares. Oppenheimer boosted their target price on shares of Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. KeyCorp boosted their price target on Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 11th. JPMorgan Chase & Co. boosted their price target on Apple from $190.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 1st. UBS Group lowered shares of Apple from a “buy” rating to a “neutral” rating and lifted their price target for the company from $180.00 to $190.00 in a research report on Monday, June 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $195.00 price target on shares of Apple in a research report on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $198.86.

Apple Price Performance

Apple stock opened at $189.46 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. The company has a market capitalization of $2.96 trillion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 2.76 and a beta of 1.27. Apple Inc. has a one year low of $124.17 and a one year high of $198.23. The business has a 50 day simple moving average of $186.91 and a 200 day simple moving average of $173.74.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $1.20 EPS. On average, sell-side analysts forecast that Apple Inc. will post 6.05 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a yield of 0.51%. Apple’s dividend payout ratio is 16.13%.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the sale, the senior vice president now owns 136,445 shares in the company, valued at $24,363,619.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.