Apple Inc. (NASDAQ:AAPL) Stock Holdings Lessened by Lifestyle Asset Management Inc.

Lifestyle Asset Management Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,050 shares of the iPhone maker’s stock after selling 145 shares during the period. Apple comprises about 1.0% of Lifestyle Asset Management Inc.’s portfolio, making the stock its 19th largest holding. Lifestyle Asset Management Inc.’s holdings in Apple were worth $1,788,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Drystone LLC acquired a new stake in Apple in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc bought a new position in shares of Apple during the 4th quarter valued at $47,000. Conquis Financial LLC acquired a new stake in shares of Apple in the 4th quarter valued at $63,000. LSV Asset Management acquired a new stake in shares of Apple in the 4th quarter valued at $65,000. Finally, Pillar Financial Advisors LLC bought a new stake in Apple in the fourth quarter worth $82,000. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares of the company’s stock, valued at $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Apple Trading Up 1.3%

NASDAQ:AAPL opened at $207.82 on Wednesday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm has a 50-day moving average price of $203.01 and a two-hundred day moving average price of $219.45. The firm has a market cap of $3.10 trillion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analysts’ expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. Apple’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 EPS. On average, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This is a positive change from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.50%. Apple’s payout ratio is presently 16.20%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wedbush reissued an “outperform” rating and issued a $270.00 price target on shares of Apple in a research report on Tuesday, June 10th. TD Cowen dropped their target price on shares of Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Citigroup reissued a “buy” rating on shares of Apple in a research report on Tuesday, June 10th. Evercore ISI upped their price target on shares of Apple to $250.00 and gave the company a “buy” rating in a report on Friday, June 6th. Finally, Raymond James Financial dropped their price objective on Apple from $250.00 to $230.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.95.

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.