Lakeshore Financial Planning Inc. Purchases 589 Shares of Apple Inc. $AAPL

Lakeshore Financial Planning Inc. raised its stake in Apple Inc. (NASDAQ:AAPL) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,099 shares of the iPhone maker’s stock after purchasing an additional 589 shares during the quarter. Apple comprises approximately 3.2% of Lakeshore Financial Planning Inc.’s holdings, making the stock its 9th biggest holding. Lakeshore Financial Planning Inc.’s holdings in Apple were worth $8,022,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ryan Investment Management Inc. acquired a new position in shares of Apple during the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC lifted its holdings in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. Conquis Financial LLC acquired a new position in shares of Apple during the 4th quarter valued at $63,000. LSV Asset Management acquired a new position in shares of Apple during the 4th quarter valued at $65,000. Finally, Elite Financial Inc. acquired a new position in shares of Apple during the 1st quarter valued at $58,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $257.13 on Friday. 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 fifty-two week low of $169.21 and a fifty-two week high of $260.10. The firm has a 50-day simple moving average of $232.20 and a 200 day simple moving average of $214.38. The company has a market cap of $3.82 trillion, a PE ratio of 39.02, a P/E/G ratio of 2.48 and a beta of 1.09.

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 business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of Apple in a report on Friday, July 25th. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a research note on Thursday, September 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Citigroup reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $266.00 price target on shares of Apple in a research note on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $247.51.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

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.