Lynch & Associates IN Buys 177 Shares of Apple Inc. $AAPL

Lynch & Associates IN boosted its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,993 shares of the iPhone maker’s stock after buying an additional 177 shares during the period. Apple accounts for approximately 1.9% of Lynch & Associates IN’s portfolio, making the stock its 14th largest position. Lynch & Associates IN’s holdings in Apple were worth $9,641,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kentucky Trust Co raised its position in shares of Apple by 1.0% in the 2nd quarter. Kentucky Trust Co now owns 30,736 shares of the iPhone maker’s stock worth $6,306,000 after acquiring an additional 305 shares in the last quarter. Northside Capital Management LLC grew its stake in Apple by 81.7% in the second quarter. Northside Capital Management LLC now owns 104,300 shares of the iPhone maker’s stock worth $21,399,000 after purchasing an additional 46,912 shares during the period. IMS Capital Management bought a new position in Apple in the second quarter worth $11,633,000. Home Federal Bank of Tennessee raised its holdings in Apple by 1.7% in the second quarter. Home Federal Bank of Tennessee now owns 28,836 shares of the iPhone maker’s stock worth $5,916,000 after purchasing an additional 479 shares in the last quarter. Finally, tru Independence LLC lifted its position in Apple by 8.7% during the second quarter. tru Independence LLC now owns 38,021 shares of the iPhone maker’s stock valued at $7,801,000 after buying an additional 3,039 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. This represents a 23.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,922 shares of company stock valued at $64,320,190. Insiders own 0.06% of the company’s stock.

Apple Stock Down 0.5%

AAPL opened at $256.69 on Tuesday. The stock has a market capitalization of $3.81 trillion, a price-to-earnings ratio of 38.95, a PEG ratio of 2.51 and a beta of 1.09. The firm has a 50 day moving average price of $233.94 and a 200-day moving average price of $214.96. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. 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 (NASDAQ:AAPL) last announced 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. The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.40 EPS. Equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date of this dividend 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 is currently 15.78%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AAPL shares. Loop Capital reduced their target price on shares of Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research report on Thursday, August 21st. Bank of America upped their price objective on shares of Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Barclays raised their target price on shares of Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Finally, Wedbush set a $310.00 price target on Apple and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $247.49.

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.