Lmcg Investments LLC Has $71.46 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Lmcg Investments LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 6.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 285,341 shares of the iPhone maker’s stock after selling 19,505 shares during the quarter. Apple makes up approximately 4.4% of Lmcg Investments LLC’s holdings, making the stock its 2nd biggest position. Lmcg Investments LLC’s holdings in Apple were worth $71,455,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Legal Advantage Investments Inc. boosted its stake in Apple by 5.5% in the 4th quarter. Legal Advantage Investments Inc. now owns 11,965 shares of the iPhone maker’s stock worth $2,996,000 after purchasing an additional 628 shares during the period. Brookmont Capital Management raised its holdings in shares of Apple by 14.5% during the 4th quarter. Brookmont Capital Management now owns 1,065 shares of the iPhone maker’s stock worth $267,000 after acquiring an additional 135 shares in the last quarter. ARS Investment Partners LLC raised its holdings in shares of Apple by 3.2% during the 4th quarter. ARS Investment Partners LLC now owns 378,612 shares of the iPhone maker’s stock worth $94,812,000 after acquiring an additional 11,705 shares in the last quarter. Royal Fund Management LLC raised its holdings in shares of Apple by 1.1% during the 4th quarter. Royal Fund Management LLC now owns 44,056 shares of the iPhone maker’s stock worth $11,047,000 after acquiring an additional 500 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC raised its holdings in shares of Apple by 0.5% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 30,066 shares of the iPhone maker’s stock worth $7,529,000 after acquiring an additional 141 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apple

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Friday, January 31st. Wells Fargo & Company increased their price target on Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Bank of America increased their price target on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a report on Friday, January 31st. Loop Capital lowered Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a report on Tuesday, January 21st. Finally, Evercore ISI increased their price target on Apple to $260.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $243.88.

Apple Price Performance

Shares of AAPL stock opened at $227.48 on Tuesday. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10. The stock’s 50-day moving average is $237.06 and its 200 day moving average is $234.16. The company has a market cap of $3.42 trillion, a P/E ratio of 36.11, a PEG ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

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

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 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.