Douglas Lane & Associates LLC Has $35.65 Million Stake in Apple Inc. $AAPL

Douglas Lane & Associates LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 173,746 shares of the iPhone maker’s stock after selling 13,429 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Apple were worth $35,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Burkett Financial Services LLC lifted its holdings in Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after purchasing an additional 93 shares during the last quarter. Avid Wealth Partners LLC lifted its holdings in Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after purchasing an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC lifted its holdings in Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after purchasing an additional 240 shares during the last quarter. OneAscent Wealth Management LLC lifted its holdings in Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock worth $2,337,000 after purchasing an additional 409 shares during the last quarter. Finally, Andina Capital Management LLC lifted its holdings in Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after purchasing an additional 4,591 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction dated 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 transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Jefferies Financial Group upped their price target on Apple from $190.67 to $205.82 and gave the stock a “hold” rating in a report on Monday, September 8th. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target for the company in a report on Thursday, September 4th. JPMorgan Chase & Co. upped their price target on Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. UBS Group restated a “neutral” rating on shares of Apple in a research report on Monday, September 8th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $266.00 price objective on shares of Apple in a research report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $241.93.

Apple Trading Up 0.4%

Shares of AAPL opened at $238.99 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.87 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 firm has a market capitalization of $3.55 trillion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 2.47 and a beta of 1.11. The stock’s fifty day simple moving average is $223.15 and its 200-day simple moving average is $212.36.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share 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 firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the prior year, the firm posted $1.40 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current 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 paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio is presently 15.78%.

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.