Apple Inc. (NASDAQ:AAPL) is Lathrop Investment Management Corp’s 3rd Largest Position

Lathrop Investment Management Corp decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 96,301 shares of the iPhone maker’s stock after selling 1,243 shares during the quarter. Apple makes up 4.2% of Lathrop Investment Management Corp’s investment portfolio, making the stock its 3rd largest position. Lathrop Investment Management Corp’s holdings in Apple were worth $22,438,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Bull Oak Capital LLC lifted its holdings in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC bought a new stake in shares of Apple during the second quarter valued at about $42,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares in the last quarter. ARK Investment Management LLC bought a new position in shares of Apple in the third quarter valued at approximately $110,000. Finally, Cordant Inc. grew its stake in Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group downgraded shares of Apple from a “hold” rating to an “underperform” rating and cut their price target for the company from $211.84 to $200.75 in a report on Thursday. Monness Crespi & Hardt boosted their target price on Apple to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Friday, October 25th. Maxim Group upped their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $238.05.

Apple Stock Performance

Apple stock opened at $237.62 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The firm has a market cap of $3.57 trillion, a P/E ratio of 39.08, a P/E/G ratio of 2.19 and a beta of 1.20. 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 firm has a 50-day moving average of $241.37 and a 200-day moving average of $230.81.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. Sell-side analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,130 shares of the company’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 directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

About Apple

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.