Lbmc Investment Advisors LLC Trims Holdings in Apple Inc. (NASDAQ:AAPL)

Posted by on Mar 20th, 2023

Lbmc Investment Advisors LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 53,737 shares of the iPhone maker’s stock after selling 2,991 shares during the period. Apple makes up approximately 0.7% of Lbmc Investment Advisors LLC’s investment portfolio, making the stock its 22nd largest position. Lbmc Investment Advisors LLC’s holdings in Apple were worth $6,982,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Robinson Value Management Ltd. purchased a new stake in Apple during the 3rd quarter worth approximately $28,000. Hanseatic Management Services Inc. grew its stake in shares of Apple by 75.4% in the third quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after acquiring an additional 107 shares in the last quarter. Bluestem Financial Advisors LLC increased its position in shares of Apple by 5,935.2% during the second quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 229,929 shares during the period. HBC Financial Services PLLC raised its stake in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares in the last quarter. Finally, Ramsey Quantitative Systems purchased a new position in Apple in the second quarter valued at $55,000. Institutional investors and hedge funds own 57.60% of the company’s stock.

Apple Trading Down 0.5 %

Apple stock opened at $155.00 on Monday. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $179.61. The firm’s 50-day moving average is $146.64 and its 200-day moving average is $145.23. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.89 and a current ratio of 0.94. The company has a market cap of $2.45 trillion, a P/E ratio of 26.32, a PEG ratio of 2.06 and a beta of 1.30.

Apple (NASDAQ:AAPL – Get Rating) last issued its earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). The business had revenue of $117.15 billion during the quarter, compared to the consensus estimate of $121.67 billion. Apple had a return on equity of 163.45% and a net margin of 24.56%. The business’s revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.10 EPS. On average, equities analysts expect that Apple Inc. will post 6.04 earnings per share for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, February 13th were paid a dividend of $0.23 per share. This is an increase from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Friday, February 10th. Apple’s dividend payout ratio is presently 15.62%.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. Oppenheimer cut their price target on Apple from $190.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, December 12th. Cowen reduced their target price on shares of Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. StockNews.com started coverage on shares of Apple in a research note on Thursday. They issued a “hold” rating for the company. Evercore ISI reissued an “outperform” rating and issued a $190.00 price objective on shares of Apple in a research report on Monday, February 6th. Finally, Cowen decreased their price objective on shares of Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $168.24.

About Apple

(Get Rating)

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

Read More

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.