LGL Partners LLC Sells 173 Shares of Apple Inc. (NASDAQ:AAPL)

LGL Partners LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 22,555 shares of the iPhone maker’s stock after selling 173 shares during the period. Apple makes up approximately 0.7% of LGL Partners LLC’s holdings, making the stock its 16th largest position. LGL Partners LLC’s holdings in Apple were worth $4,750,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after acquiring an additional 18,067,216 shares in the last quarter. Swedbank AB purchased a new position in shares of Apple in the first quarter worth $3,026,492,000. Global Assets Advisory LLC lifted its holdings in shares of Apple by 23,076.4% during the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after purchasing an additional 9,200,345 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after buying an additional 5,405,542 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AAPL. Oppenheimer reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Tigress Financial lifted their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Citigroup reissued a “buy” rating and set a $255.00 price target on shares of Apple in a report on Wednesday, October 2nd. Cfra lifted their price objective on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, UBS Group upped their price objective on Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Apple Trading Up 1.1 %

Shares of AAPL opened at $233.85 on Wednesday. The firm has a market cap of $3.59 trillion, a P/E ratio of 36.37, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a 50 day simple moving average of $224.59 and a two-hundred day simple moving average of $207.04.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted $1.26 earnings per share. On average, equities analysts expect that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is 15.55%.

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.