Lbmc Investment Advisors LLC Sells 463 Shares of Apple Inc. $AAPL

Lbmc Investment Advisors LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,302 shares of the iPhone maker’s stock after selling 463 shares during the period. Apple makes up 0.9% of Lbmc Investment Advisors LLC’s portfolio, making the stock its 19th largest holding. Lbmc Investment Advisors LLC’s holdings in Apple were worth $13,193,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Lifelong Wealth Advisors Inc. increased its stake in Apple by 6.9% during the second quarter. Lifelong Wealth Advisors Inc. now owns 6,918 shares of the iPhone maker’s stock valued at $1,419,000 after acquiring an additional 444 shares during the period. Aaron Wealth Advisors LLC grew its holdings in shares of Apple by 6.4% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 113,152 shares of the iPhone maker’s stock worth $23,215,000 after purchasing an additional 6,843 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. grew its holdings in shares of Apple by 32.2% during the 2nd quarter. Financiere des Professionnels Fonds d investissement inc. now owns 143,512 shares of the iPhone maker’s stock worth $29,444,000 after purchasing an additional 34,978 shares in the last quarter. Keystone Wealth Services LLC grew its holdings in shares of Apple by 5.9% during the 2nd quarter. Keystone Wealth Services LLC now owns 73,853 shares of the iPhone maker’s stock worth $15,153,000 after purchasing an additional 4,098 shares in the last quarter. Finally, Thrive Wealth Management LLC grew its holdings in shares of Apple by 1.3% during the 2nd quarter. Thrive Wealth Management LLC now owns 56,561 shares of the iPhone maker’s stock worth $11,605,000 after purchasing an additional 725 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AAPL. Barclays raised their target price on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. Tigress Financial upped their target price on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. Bank of America upped their target price on shares of Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. HSBC set a $220.00 price objective on Apple and gave the company a “hold” rating in a report on Monday, September 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.03.

Insider Transactions at Apple

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

Apple Price Performance

Shares of AAPL stock opened at $254.43 on Wednesday. The firm has a fifty day moving average of $226.20 and a 200-day moving average of $212.51. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $3.78 trillion, a price-to-earnings ratio of 38.61, a price-to-earnings-growth ratio of 2.66 and a beta of 1.11. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio is presently 15.78%.

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.