Lmcg Investments LLC Has $71.03 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Lmcg Investments LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 304,846 shares of the iPhone maker’s stock after selling 11,675 shares during the quarter. Apple comprises approximately 4.3% of Lmcg Investments LLC’s holdings, making the stock its 2nd largest holding. Lmcg Investments LLC’s holdings in Apple were worth $71,029,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. International Assets Investment Management LLC boosted its position in shares of Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after buying an additional 7,558,826 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in Apple by 22,870.6% in the third quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock worth $1,302,607,000 after buying an additional 5,566,250 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Apple in the second quarter worth $834,368,000. Finally, Ameriprise Financial Inc. lifted its position in Apple by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after buying an additional 3,245,281 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Bank of America restated a “buy” rating and issued a $256.00 price target on shares of Apple in a research report on Friday. Rosenblatt Securities raised their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 target price on shares of Apple in a research report on Monday, September 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $238.03.

Apple Price Performance

AAPL opened at $243.36 on Friday. The business’s 50-day moving average is $238.91 and its two-hundred day moving average is $228.87. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. 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 $3.68 trillion, a PE ratio of 40.03, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.

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 the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Research 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. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.41%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

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.