Lighthouse Wealth Management Inc. Has $1.17 Million Stake in Apple Inc. $AAPL

Lighthouse Wealth Management Inc. lessened its position in Apple Inc. (NASDAQ:AAPL) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,689 shares of the iPhone maker’s stock after selling 101 shares during the period. Apple comprises about 1.0% of Lighthouse Wealth Management Inc.’s portfolio, making the stock its 17th largest holding. Lighthouse Wealth Management Inc.’s holdings in Apple were worth $1,167,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in AAPL. Ryan Investment Management Inc. acquired a new position in shares of Apple during the second quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC raised its stake in Apple by 1,800.0% in the first 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 in the last quarter. Conquis Financial LLC bought a new stake in Apple in the 4th quarter worth approximately $63,000. LSV Asset Management purchased a new stake in Apple during the 4th quarter valued at about $65,000. Finally, Elite Financial Inc. bought a new stake in Apple in the first quarter valued at $58,000. 67.73% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 transaction of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $255.45 on Thursday. The stock has a market capitalization of $3.79 trillion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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 business has a 50-day moving average of $231.34 and a 200 day moving average of $214.08. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter in the previous year, the business posted $1.40 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on AAPL shares. HSBC set a $220.00 price target on Apple and gave the company a “hold” rating in a report on Monday, September 8th. JPMorgan Chase & Co. raised their price objective on shares of Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Rosenblatt Securities upped their price objective on shares of Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Evercore ISI set a $290.00 price target on shares of Apple and gave the stock an “outperform” rating in a report on Friday, September 26th. Finally, Morgan Stanley set a $240.00 price target on Apple and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $245.51.

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.