Apple Inc. $AAPL is Lee Financial Co’s 10th Largest Position

Lee Financial Co reduced its position in Apple Inc. (NASDAQ:AAPL) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,285 shares of the iPhone maker’s stock after selling 773 shares during the period. Apple makes up approximately 2.0% of Lee Financial Co’s holdings, making the stock its 10th largest holding. Lee Financial Co’s holdings in Apple were worth $14,215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Kingstone Capital Partners Texas LLC raised its stake in shares of Apple by 573,627.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after purchasing an additional 205,656,808 shares during the period. Nuveen LLC purchased a new position in shares of Apple in the first quarter valued at $17,472,482,000. Northern Trust Corp grew its holdings in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. Amundi grew its holdings in Apple by 27.4% during the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock valued at $13,870,795,000 after purchasing an additional 14,651,321 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after buying an additional 13,137,968 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AAPL shares. Phillip Securities lowered Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price on the stock. in a research report on Thursday, September 11th. Citigroup restated a “buy” rating and set a $315.00 price objective (up previously from $245.00) on shares of Apple in a research note on Friday. Tigress Financial lifted their price objective on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 17th. Wall Street Zen raised Apple from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Friday, July 25th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.52.

Apple Stock Performance

AAPL opened at $269.05 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The business’s 50 day moving average is $249.17 and its 200-day moving average is $222.85. The stock has a market cap of $3.99 trillion, a PE ratio of 40.83, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $277.32.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. The firm had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.64 earnings per share. On average, analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, November 10th. Apple’s payout ratio is presently 13.92%.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 259,121 shares of company stock valued at $65,358,981 in the last 90 days. Insiders own 0.06% of the company’s stock.

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.