Red Lighthouse Investment Management LLC Grows Holdings in Apple Inc. (NASDAQ:AAPL)

Red Lighthouse Investment Management LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 93,531 shares of the iPhone maker’s stock after purchasing an additional 5,086 shares during the quarter. Apple accounts for 8.3% of Red Lighthouse Investment Management LLC’s holdings, making the stock its 4th biggest holding. Red Lighthouse Investment Management LLC’s holdings in Apple were worth $20,776,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Tallon Kerry Patrick bought a new position in Apple in the 4th quarter valued at $1,877,000. First National Bank of Hutchinson grew its position in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after acquiring an additional 6,982 shares during the last quarter. Capital & Planning LLC lifted its holdings in shares of Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker’s stock worth $6,836,000 after buying an additional 2,647 shares during the period. Eagle Capital Management LLC lifted its holdings in shares of Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after buying an additional 272 shares during the period. Finally, Brighton Jones LLC lifted its holdings in shares of Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after buying an additional 69,207 shares during the period. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Bank of America upped their target price on Apple from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Loop Capital decreased their price objective on Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Rosenblatt Securities restated a “neutral” rating and set a $217.00 price objective on shares of Apple in a research note on Tuesday, July 29th. TD Cowen decreased their price objective on Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Finally, Barclays upped their price objective on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.60.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Apple Stock Down 0.5%

Shares of AAPL opened at $231.59 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock’s 50 day moving average is $209.69 and its two-hundred day moving average is $213.14. The firm has a market cap of $3.44 trillion, a P/E ratio of 35.14, a PEG ratio of 2.42 and a beta of 1.16.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%. The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period last year, the company earned $1.40 earnings per share. Apple’s quarterly revenue was up 9.6% compared to the same quarter last year. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Apple declared that its board has authorized a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.