Lake Street Private Wealth LLC Sells 15,305 Shares of Apple Inc. (NASDAQ:AAPL)

Lake Street Private Wealth LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,026 shares of the iPhone maker’s stock after selling 15,305 shares during the period. Apple accounts for approximately 6.4% of Lake Street Private Wealth LLC’s holdings, making the stock its biggest holding. Lake Street Private Wealth LLC’s holdings in Apple were worth $40,324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wealth Dimensions Group Ltd. lifted its position in Apple by 1.4% during the 2nd quarter. Wealth Dimensions Group Ltd. now owns 61,794 shares of the iPhone maker’s stock valued at $13,015,000 after purchasing an additional 852 shares during the period. Dimensional Fund Advisors LP lifted its position in Apple by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after purchasing an additional 2,785,807 shares during the period. American Planning Services Inc. lifted its position in Apple by 109.2% during the 2nd quarter. American Planning Services Inc. now owns 23,111 shares of the iPhone maker’s stock valued at $4,868,000 after purchasing an additional 12,064 shares during the period. Menard Financial Group LLC lifted its position in Apple by 13.4% during the 2nd quarter. Menard Financial Group LLC now owns 12,173 shares of the iPhone maker’s stock valued at $2,564,000 after purchasing an additional 1,438 shares during the period. Finally, Grunden Financial Advisory Inc. increased its stake in shares of Apple by 3.4% in the 2nd quarter. Grunden Financial Advisory Inc. now owns 3,218 shares of the iPhone maker’s stock valued at $678,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley set a $275.00 price target on Apple in a research note on Tuesday, February 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Friday, January 31st. Finally, Redburn Partners set a $230.00 price target on Apple in a research note on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.88.

Apple Trading Down 1.6 %

Shares of AAPL stock opened at $238.03 on Tuesday. The company has a market cap of $3.58 trillion, a P/E ratio of 37.78, a PEG ratio of 2.44 and a beta of 1.20. The stock has a 50 day simple moving average of $239.26 and a two-hundred day simple moving average of $233.85. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio (DPR) is currently 15.87%.

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.