Twin Lakes Capital Management LLC Sells 2,024 Shares of Apple Inc. (NASDAQ:AAPL)

Twin Lakes Capital Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,629 shares of the iPhone maker’s stock after selling 2,024 shares during the period. Apple comprises 10.0% of Twin Lakes Capital Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Twin Lakes Capital Management LLC’s holdings in Apple were worth $17,403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Wallace Advisory Group LLC boosted its position in shares of Apple by 14.4% in the 2nd quarter. Wallace Advisory Group LLC now owns 14,731 shares of the iPhone maker’s stock worth $3,103,000 after buying an additional 1,855 shares in the last quarter. William B. Walkup & Associates Inc. purchased a new stake in Apple in the 2nd quarter worth approximately $377,000. Sunbelt Securities Inc. grew its position in shares of Apple by 0.3% in the second quarter. Sunbelt Securities Inc. now owns 111,167 shares of the iPhone maker’s stock valued at $23,414,000 after purchasing an additional 333 shares during the period. Granite FO LLC acquired a new position in shares of Apple during the 2nd quarter valued at about $1,942,000. Finally, Front Row Advisors LLC raised its stake in Apple by 1.3% during the second quarter. Front Row Advisors LLC now owns 145,035 shares of the iPhone maker’s stock worth $30,547,000 after purchasing an additional 1,797 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $225.00 on Friday. The stock’s fifty day simple moving average is $226.96 and its 200 day simple moving average is $215.60. The stock has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.21 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the business posted $1.46 EPS. Apple’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Buying and Selling

In other news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 404,040 shares of company stock valued at $91,062,512. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AAPL. Robert W. Baird raised their price objective on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen raised their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group lifted their price target on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and increased their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Apple Company 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.