Leisure Capital Management Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Leisure Capital Management lowered its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,306 shares of the iPhone maker’s stock after selling 1,041 shares during the quarter. Apple accounts for approximately 7.2% of Leisure Capital Management’s investment portfolio, making the stock its biggest holding. Leisure Capital Management’s holdings in Apple were worth $13,343,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wyrmwood Management LLC lifted its position in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares in the last quarter. Gilfoyle & Co LLC raised its holdings in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the period. PayPay Securities Corp raised its holdings in shares of Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after purchasing an additional 210 shares during the period. Friedenthal Financial bought a new stake in shares of Apple in the 4th quarter worth approximately $111,000. Finally, Cordant Inc. raised its holdings in shares of Apple by 27.7% in the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after purchasing an additional 140 shares during the period. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In other news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 271,270 shares of company stock valued at $46,511,696. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AAPL. UBS Group reaffirmed a “hold” rating and issued a $190.00 price target on shares of Apple in a report on Monday, March 25th. JPMorgan Chase & Co. lifted their price target on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Morgan Stanley lifted their price target on shares of Apple from $210.00 to $216.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price target on shares of Apple in a report on Friday, May 3rd. Finally, Piper Sandler lowered their price target on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.44.

Read Our Latest Stock Report on Apple

Apple Stock Performance

NASDAQ AAPL opened at $190.29 on Thursday. The company has a 50-day simple moving average of $176.73 and a two-hundred day simple moving average of $183.17. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $199.62. The firm has a market cap of $2.92 trillion, a price-to-earnings ratio of 29.59, a PEG ratio of 2.32 and a beta of 1.26.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 6.57 EPS for the current year.

Apple declared that its board has initiated a share buyback program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.53%. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio is presently 15.55%.

Apple Profile

(Free Report)

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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