Lake Street Advisors Group LLC Purchases 4,150 Shares of Apple Inc. (NASDAQ:AAPL)

Lake Street Advisors Group LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 213,493 shares of the iPhone maker’s stock after acquiring an additional 4,150 shares during the quarter. Apple accounts for approximately 2.2% of Lake Street Advisors Group LLC’s investment portfolio, making the stock its 11th biggest position. Lake Street Advisors Group LLC’s holdings in Apple were worth $44,966,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fidelis Capital Partners LLC raised its holdings in Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares in the last quarter. Access Investment Management LLC bought a new position in shares of Apple in the first quarter worth $140,000. Hoese & Co LLP raised its stake in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares in the last quarter. Sage Financial Group Inc. bought a new stake in Apple during the second quarter worth about $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in Apple during the second quarter worth about $208,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 517,924 shares of company stock valued at $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. Moffett Nathanson began coverage on shares of Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price for the company. TD Cowen boosted their price objective on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Cfra raised their target price on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Bank of America reissued a “buy” rating and set a $256.00 price target on shares of Apple in a report on Thursday, October 3rd. Finally, Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $239.27.

Apple Stock Performance

Shares of AAPL opened at $235.86 on Wednesday. The stock has a market capitalization of $3.62 trillion, a P/E ratio of 36.68, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The firm’s fifty day simple moving average is $226.46 and its two-hundred day simple moving average is $209.33. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the prior year, the business earned $1.26 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts predict that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. Apple’s dividend payout ratio (DPR) is currently 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.