Alan B Lancz & Associates Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,724 shares of the iPhone maker’s stock after selling 1,134 shares during the period. Apple comprises 9.6% of Alan B Lancz & Associates Inc.’s investment portfolio, making the stock its biggest position. Alan B Lancz & Associates Inc.’s holdings in Apple were worth $10,421,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMB Wealth Management increased its position in shares of Apple by 2.7% in the 3rd quarter. FMB Wealth Management now owns 19,291 shares of the iPhone maker’s stock valued at $4,495,000 after purchasing an additional 500 shares during the last quarter. Retirement Solution LLC grew its stake in Apple by 165.3% during the 3rd quarter. Retirement Solution LLC now owns 32,845 shares of the iPhone maker’s stock worth $7,653,000 after buying an additional 20,467 shares during the last quarter. Costello Asset Management INC increased its holdings in shares of Apple by 8.5% in the 3rd quarter. Costello Asset Management INC now owns 7,939 shares of the iPhone maker’s stock valued at $1,850,000 after acquiring an additional 620 shares during the period. Avid Wealth Partners LLC raised its holdings in shares of Apple by 11.1% in the third quarter. Avid Wealth Partners LLC now owns 3,652 shares of the iPhone maker’s stock valued at $851,000 after buying an additional 365 shares during the last quarter. Finally, Summit Wealth & Retirement Planning Inc. increased its holdings in shares of Apple by 21.8% in the third quarter. Summit Wealth & Retirement Planning Inc. now owns 28,062 shares of the iPhone maker’s stock valued at $6,538,000 after purchasing an additional 5,021 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.
Wall Street Analyst Weigh In
AAPL has been the subject of several analyst reports. Maxim Group increased their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Piper Sandler restated a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Barclays lifted their price objective on Apple to $184.00 and gave the stock a “sell” rating in a research report on Friday, January 10th. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a report on Friday, October 25th. Finally, StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $239.85.
Apple Price Performance
Shares of NASDAQ:AAPL opened at $228.26 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a 50-day simple moving average of $240.93 and a 200 day simple moving average of $230.57. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The company has a market cap of $3.45 trillion, a PE ratio of 37.54, a P/E/G ratio of 2.32 and a beta of 1.20.
Apple (NASDAQ:AAPL – Get Free Report) last announced 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 business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the firm earned $1.46 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.
Apple Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.
Insider Transactions at Apple
In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.
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.
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