Lansing Street Advisors Has $3.54 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Lansing Street Advisors grew its holdings in Apple Inc. (NASDAQ:AAPL) by 13.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,193 shares of the iPhone maker’s stock after purchasing an additional 1,805 shares during the period. Apple comprises 1.3% of Lansing Street Advisors’ portfolio, making the stock its 22nd largest holding. Lansing Street Advisors’ holdings in Apple were worth $3,540,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AAPL. International Assets Investment Management LLC grew its position in Apple by 20,372.7% during the third 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 purchasing an additional 93,886,664 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after buying an additional 7,558,826 shares during the period. Pathway Financial Advisers LLC grew its holdings in shares of Apple by 22,870.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock valued at $1,302,607,000 after acquiring an additional 5,566,250 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Apple in the second quarter worth $834,368,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 0.7 %

Apple stock opened at $245.00 on Tuesday. The business has a 50 day moving average price of $239.15 and a two-hundred day moving average price of $229.33. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The stock has a market cap of $3.70 trillion, a price-to-earnings ratio of 40.30, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during 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%. Apple’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The firm also recently declared 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 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent research reports. New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Moffett Nathanson cut their price objective on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. Rosenblatt Securities lifted their target price on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Loop Capital dropped their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $238.03.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.