Apple Inc. (NASDAQ:AAPL) Stake Decreased by Lipe & Dalton

Lipe & Dalton cut its stake in Apple Inc. (NASDAQ:AAPL) by 2.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,664 shares of the iPhone maker’s stock after selling 1,670 shares during the period. Apple comprises approximately 9.1% of Lipe & Dalton’s portfolio, making the stock its largest position. Lipe & Dalton’s holdings in Apple were worth $16,034,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. IFM Investors Pty Ltd lifted its holdings in shares of Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after acquiring an additional 435,891 shares during the last quarter. Ironwood Wealth Management LLC. raised its position in Apple by 0.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after purchasing an additional 1,040 shares during the period. Markel Corp lifted its stake in Apple by 0.7% in the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock worth $210,752,000 after purchasing an additional 8,450 shares during the last quarter. Camden Capital LLC boosted its position in Apple by 9.2% during the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after buying an additional 13,200 shares during the period. Finally, Harbor Island Capital LLC grew its stake in shares of Apple by 0.3% during the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after buying an additional 400 shares during the last quarter. Institutional investors own 58.51% of the company’s stock.

Insider Activity at Apple

In other Apple news, CFO Luca Maestri sold 31,685 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the sale, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at $19,237,944.09. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Apple news, CFO Luca Maestri sold 31,685 shares of the stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the completion of the sale, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the sale, the chief executive officer now owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 455,004 shares of company stock worth $79,238,767. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Piper Sandler Companies boosted their price objective on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Apple from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, July 24th. Jefferies Financial Group decreased their price objective on shares of Apple from $220.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday. TD Cowen increased their target price on shares of Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Finally, Piper Sandler boosted their price target on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, July 31st. Ten analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $197.82.

Apple Stock Performance

Shares of AAPL opened at $176.65 on Friday. The business has a 50-day simple moving average of $176.84 and a two-hundred day simple moving average of $179.30. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The stock has a market cap of $2.76 trillion, a price-to-earnings ratio of 29.69, a PEG ratio of 2.42 and a beta of 1.30.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The company had revenue of $89.50 billion during the quarter, compared to analyst estimates of $89.34 billion. During the same period in the prior year, the firm posted $1.29 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. On average, analysts expect that Apple Inc. will post 6.05 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, November 10th. This represents a $0.96 annualized dividend and a dividend yield of 0.54%. Apple’s payout ratio is 16.13%.

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.