Lake Hills Wealth Management LLC Has $2.30 Million Position in Apple Inc. (NASDAQ:AAPL)

Lake Hills Wealth Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,342 shares of the iPhone maker’s stock after selling 300 shares during the period. Apple comprises 1.6% of Lake Hills Wealth Management LLC’s portfolio, making the stock its 17th biggest holding. Lake Hills Wealth Management LLC’s holdings in Apple were worth $2,297,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Advanced Portfolio Management LLC increased its position in Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after acquiring an additional 47 shares during the period. Family Capital Management Inc. increased its position in Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock valued at $4,235,000 after acquiring an additional 48 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its position in Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock valued at $4,178,000 after acquiring an additional 48 shares during the period. Scarborough Advisors LLC increased its position in Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock valued at $3,992,000 after acquiring an additional 51 shares during the period. Finally, Disciplined Investments LLC increased its position in Apple by 0.7% in the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker’s stock valued at $1,794,000 after acquiring an additional 51 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $213.36 on Monday. The company has a market capitalization of $3.19 trillion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 2.38 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. The company has a 50-day simple moving average of $203.35 and a 200 day simple moving average of $218.44. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion during 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 for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.53 earnings per share. On average, research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership 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 $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. This is a positive change from Apple’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple’s payout ratio is presently 16.20%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. China Renaissance assumed coverage on shares of Apple in a research report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 price target for the company. Evercore ISI upped their price target on shares of Apple to $250.00 and gave the company a “buy” rating in a research report on Friday, June 6th. TD Cowen decreased their price objective on shares of Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Barclays set a $173.00 price objective on shares of Apple and gave the stock an “underweight” rating in a research report on Tuesday, June 24th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.95.

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.