Twin Lakes Capital Management LLC Reduces Holdings in Apple Inc. $AAPL

Twin Lakes Capital Management LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 81,563 shares of the iPhone maker’s stock after selling 743 shares during the quarter. Apple makes up 10.1% of Twin Lakes Capital Management LLC’s holdings, making the stock its 2nd largest position. Twin Lakes Capital Management LLC’s holdings in Apple were worth $18,117,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. ROSS JOHNSON & Associates LLC raised its holdings in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the period. Life Planning Partners Inc acquired a new position in Apple in the 4th quarter valued at about $47,000. Elite Financial Inc. acquired a new position in Apple in the 1st quarter valued at about $58,000. Conquis Financial LLC acquired a new position in Apple in the 4th quarter valued at about $63,000. Finally, LSV Asset Management acquired a new position in Apple in the 4th quarter valued at about $65,000. 67.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of Apple stock opened at $234.07 on Monday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.47 trillion, a P/E ratio of 35.52, a P/E/G ratio of 2.43 and a beta of 1.11. The company’s 50 day moving average price is $221.50 and its two-hundred day moving average price is $212.02.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the business posted $1.40 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently commented on AAPL. Citigroup reiterated a “buy” rating on shares of Apple in a research note on Wednesday. Rosenblatt Securities upped their price target on shares of Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. The Goldman Sachs Group reiterated a “buy” rating and issued a $266.00 price target on shares of Apple in a research note on Tuesday, August 26th. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Finally, Monness Crespi & Hardt upped their price target on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.80.

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.