Lpwm LLC Decreases Stake in Apple Inc. (NASDAQ:AAPL)

Lpwm LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 17.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,288 shares of the iPhone maker’s stock after selling 896 shares during the quarter. Lpwm LLC’s holdings in Apple were worth $719,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Wyrmwood Management LLC raised its holdings in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Gilfoyle & Co LLC raised its holdings in Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new position in Apple during the fourth quarter worth $39,000. University of Texas Texas AM Investment Managment Co. raised its holdings in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in Apple during the fourth quarter worth $85,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares in the company, valued at $835,207,570.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares in the company, valued at $835,207,570.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 59,162 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total value of $10,188,879.64. Following the sale, the chief operating officer now owns 489,944 shares in the company, valued at approximately $84,378,155.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 192,355 shares of company stock worth $34,771,329. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price objective on shares of Apple in a report on Monday. Oppenheimer lifted their price objective on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 28th. Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. JPMorgan Chase & Co. boosted their price target on Apple from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Finally, Maxim Group boosted their price target on Apple from $178.00 to $195.00 and gave the stock a “hold” rating in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Apple Price Performance

Shares of NASDAQ AAPL opened at $220.27 on Wednesday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $220.38. The business has a 50-day moving average of $193.14 and a 200-day moving average of $185.44. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The company has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 34.26, a PEG ratio of 2.56 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same quarter in the prior year, the business earned $1.52 earnings per share. The company’s revenue was down 4.3% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 6.59 EPS for the current fiscal year.

Apple announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a $0.25 dividend. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s payout ratio is 15.55%.

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.