LGL Partners LLC Has $4.49 Million Holdings in Apple Inc. (NASDAQ:AAPL)

LGL Partners LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 37.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,297 shares of the iPhone maker’s stock after selling 14,122 shares during the period. Apple comprises 0.6% of LGL Partners LLC’s holdings, making the stock its 19th largest holding. LGL Partners LLC’s holdings in Apple were worth $4,485,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wyrmwood Management LLC grew 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 purchasing an additional 69 shares in the last quarter. Gilfoyle & Co LLC grew its position in shares of Apple by 118.0% during 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 in the last quarter. PayPay Securities Corp grew its position in shares of Apple by 70.2% during 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 in the last quarter. Friedenthal Financial acquired a new position in shares of Apple during the 4th quarter worth approximately $111,000. Finally, Cordant Inc. grew its position in shares of Apple by 27.7% during the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on 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 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 Securities & Exchange Commission, which is available through this link. In related news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the transaction, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on 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 sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The disclosure for this sale can be found here. Insiders sold 271,270 shares of company stock valued at $46,511,696 over the last quarter. Insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL stock opened at $192.25 on Monday. The company has a fifty day moving average price of $177.53 and a 200-day moving average price of $183.22. The company has a market capitalization of $2.95 trillion, a P/E ratio of 29.90, a PEG ratio of 2.34 and a beta of 1.26. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

Apple (NASDAQ:AAPLGet Free Report) last released 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. The firm had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 earnings per share. As a group, equities analysts expect that Apple Inc. will post 6.57 EPS for the current year.

Apple announced that its board has authorized a stock repurchase plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AAPL. Barclays increased their target price on shares of Apple from $158.00 to $164.00 and gave the stock an “underweight” rating in a research report on Friday, May 3rd. Maxim Group initiated coverage on shares of Apple in a research report on Wednesday, April 17th. They set a “hold” rating and a $178.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Tigress Financial increased their price target on shares of Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Finally, Canaccord Genuity Group increased their price target on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Saturday, May 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.59.

Check Out Our Latest Analysis on AAPL

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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