Apple Inc. (NASDAQ:AAPL) is Lakeridge Wealth Management LLC’s 5th Largest Position

Lakeridge Wealth Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,136 shares of the iPhone maker’s stock after selling 394 shares during the quarter. Apple makes up approximately 3.7% of Lakeridge Wealth Management LLC’s investment portfolio, making the stock its 5th largest position. Lakeridge Wealth Management LLC’s holdings in Apple were worth $6,789,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AAPL. Fidelis Capital Partners LLC lifted its stake in shares of 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 purchasing an additional 31,278 shares during the last quarter. Hershey Financial Advisers LLC acquired a new position in shares of Apple in the 2nd quarter valued at $42,000. Access Investment Management LLC acquired a new position in shares of Apple in the 1st quarter valued at $140,000. Hoese & Co LLP lifted its stake in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. acquired a new position in shares of Apple in the 2nd quarter valued at $206,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AAPL shares. Tigress Financial upped their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. New Street Research reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Friday, November 1st. Wedbush reissued an “outperform” rating and set a $285.00 target price on shares of Apple in a research note on Monday, September 9th. Finally, TD Cowen increased their target price on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $235.25.

Apple Stock Down 0.2 %

NASDAQ AAPL opened at $228.44 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock’s 50 day moving average is $227.59 and its two-hundred day moving average is $217.47. The company has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 37.57, a PEG ratio of 2.24 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 in the last quarter. Insiders own 0.06% of the company’s stock.

Apple Company 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.