Lakewood Asset Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,419 shares of the iPhone maker’s stock after selling 184 shares during the quarter. Apple comprises about 4.9% of Lakewood Asset Management LLC’s investment portfolio, making the stock its 3rd biggest position. Lakewood Asset Management LLC’s holdings in Apple were worth $6,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Atlantic Private Wealth LLC bought a new stake in Apple during the first quarter worth approximately $30,000. St. James Investment Advisors LLC increased its holdings in shares of Apple by 98.3% in the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock valued at $31,000 after buying an additional 117 shares in the last quarter. Cheyne Capital Management UK LLP increased its holdings in shares of Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after buying an additional 550 shares in the last quarter. HBC Financial Services PLLC increased its holdings 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 buying an additional 80 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Apple in the fourth quarter valued at $93,000. 58.51% of the stock is owned by hedge funds and other institutional investors.
Apple Price Performance
AAPL opened at $171.21 on Friday. The firm has a 50-day moving average price of $181.22 and a 200-day moving average price of $177.10. The company has a market capitalization of $2.68 trillion, a price-to-earnings ratio of 28.77, a PEG ratio of 2.49 and a beta of 1.27. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63.
Apple Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a yield of 0.56%. Apple’s dividend payout ratio is currently 16.13%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. DA Davidson cut Apple from a “buy” rating to a “neutral” rating and dropped their price target for the company from $193.00 to $185.00 in a report on Monday, June 5th. TD Cowen boosted their target price on shares of Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Tigress Financial boosted their target price on shares of Apple from $210.00 to $225.00 in a research note on Friday, June 23rd. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Apple in a research note on Thursday, September 21st. Finally, Piper Jaffray Companies boosted their target price on shares of Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. Nine research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $200.54.
Check Out Our Latest Analysis on AAPL
Insider Activity at Apple
In related news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the completion of the sale, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $24,363,619.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by company insiders.
About Apple
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.
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