Cyrus J. Lawrence LLC Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

Cyrus J. Lawrence LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 0.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,392 shares of the iPhone maker’s stock after selling 106 shares during the period. Apple makes up approximately 4.5% of Cyrus J. Lawrence LLC’s investment portfolio, making the stock its 3rd biggest holding. Cyrus J. Lawrence LLC’s holdings in Apple were worth $22,197,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Main Line Retirement Advisors LLC increased its stake in Apple by 54.5% in the first quarter. Main Line Retirement Advisors LLC now owns 5,193 shares of the iPhone maker’s stock worth $891,000 after purchasing an additional 1,832 shares during the period. Panoramic Investment Advisors LLC grew its holdings in shares of Apple by 26.9% in the first quarter. Panoramic Investment Advisors LLC now owns 9,747 shares of the iPhone maker’s stock worth $1,671,000 after purchasing an additional 2,066 shares during the last quarter. Iams Wealth Management LLC increased its stake in Apple by 23.5% in the 1st quarter. Iams Wealth Management LLC now owns 6,486 shares of the iPhone maker’s stock worth $1,177,000 after buying an additional 1,233 shares during the period. Cullinan Associates Inc. lifted its holdings in Apple by 1.5% during the 1st quarter. Cullinan Associates Inc. now owns 760,875 shares of the iPhone maker’s stock valued at $130,475,000 after buying an additional 10,882 shares in the last quarter. Finally, Synergy Asset Management LLC boosted its position in Apple by 37.2% in the 1st quarter. Synergy Asset Management LLC now owns 114,539 shares of the iPhone maker’s stock valued at $19,641,000 after buying an additional 31,079 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on AAPL. Morgan Stanley restated an “overweight” rating and set a $273.00 price objective on shares of Apple in a report on Tuesday, September 10th. New Street Research restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Barclays lowered their price objective on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. Oppenheimer reissued a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Finally, Rosenblatt Securities upped their price target on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $235.51.

Insider Buying and Selling

In other news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the sale, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 412,746 shares of company stock valued at $93,021,362. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 0.2 %

AAPL stock opened at $226.96 on Monday. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The firm has a market cap of $3.43 trillion, a PE ratio of 37.33, a PEG ratio of 2.18 and a beta of 1.24. The firm’s 50 day moving average price is $226.82 and its 200-day moving average price is $214.36. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio is presently 16.45%.

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.