LGT Fund Management Co Ltd. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,900 shares of the iPhone maker’s stock after selling 1,700 shares during the period. Apple comprises 3.6% of LGT Fund Management Co Ltd.’s investment portfolio, making the stock its 3rd biggest holding. LGT Fund Management Co Ltd.’s holdings in Apple were worth $7,933,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of AAPL. Atlantic Private Wealth LLC purchased a new stake in shares of Apple during the 1st quarter worth $30,000. Summit Wealth Group LLC lifted its stake in shares of Apple by 16,252.3% in the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 6,949,659 shares during the period. HBC Financial Services PLLC boosted its holdings in 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 buying an additional 80 shares in the last quarter. Clear Perspectives Financial Planning LLC grew its position in Apple by 27.3% during the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after buying an additional 211 shares during the period. Finally, Magellan Asset Management Ltd increased its holdings in Apple by 10.6% in the second quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock valued at $181,000 after buying an additional 127 shares in the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Apple
In related news, SVP Deirdre O’brien sold 65,536 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the transaction, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $23,483,548.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the completion of the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $23,483,548.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Luca Maestri sold 31,685 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 107,661 shares in the company, valued at approximately $19,237,944.09. The disclosure for this sale can be found here. Insiders sold 439,585 shares of company stock valued at $76,485,550 over the last quarter. Company insiders own 0.06% of the company’s stock.
Apple Stock Down 0.5 %
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $89.34 billion. During the same period in the previous year, the firm earned $1.29 earnings per share. Apple’s revenue for the quarter was down .7% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 6.05 earnings per share for the current year.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Friday, November 10th. Apple’s dividend payout ratio is presently 15.69%.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on AAPL. Jefferies Financial Group lowered their price target on Apple from $220.00 to $195.00 and set a “buy” rating on the stock in a report on Tuesday, October 31st. Oppenheimer dropped their price target on Apple from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, October 30th. The Goldman Sachs Group lowered their price objective on shares of Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a research note on Wednesday, September 13th. Credit Suisse Group restated an “outperform” rating and set a $220.00 target price on shares of Apple in a research report on Friday, September 15th. Finally, Citigroup reiterated a “buy” rating and issued a $240.00 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-five have assigned a buy rating to the company. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.82.
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.
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