Lynch & Associates IN Cuts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Lynch & Associates IN decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,632 shares of the iPhone maker’s stock after selling 228 shares during the quarter. Apple makes up 2.3% of Lynch & Associates IN’s portfolio, making the stock its 10th largest position. Lynch & Associates IN’s holdings in Apple were worth $11,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in shares of Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after acquiring an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Apple by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after purchasing an additional 3,245,281 shares during the last quarter. Capital International Investors raised its holdings in Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after purchasing an additional 2,474,887 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after buying an additional 1,065,759 shares during the last quarter. Finally, Swedbank AB boosted its holdings in shares of Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after buying an additional 2,359,409 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ:AAPL opened at $242.84 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $244.63. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.67 trillion, a PE ratio of 39.94, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23. The business’s fifty day moving average price is $230.23 and its 200 day moving average price is $221.05.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $1.46 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Maxim Group boosted their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Friday, November 1st. Bank of America boosted their price target on Apple to $256.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays reduced their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $235.68.

Insider Activity at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 35.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 in the last ninety days. Insiders own 0.06% of the company’s stock.

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.