Apple Inc. $AAPL Stock Holdings Lifted by Lmcg Investments LLC

Lmcg Investments LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 4.3% in the 1st quarter, HoldingsChannel reports. The firm owned 264,254 shares of the iPhone maker’s stock after buying an additional 10,873 shares during the quarter. Apple comprises approximately 4.0% of Lmcg Investments LLC’s holdings, making the stock its largest holding. Lmcg Investments LLC’s holdings in Apple were worth $67,065,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of AAPL. Lifetime Wealth Management P.C. purchased a new stake in Apple during the fourth quarter worth $41,000. ROSS JOHNSON & Associates LLC boosted its position in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. LSV Asset Management purchased a new position in shares of Apple in the 4th quarter valued at $65,000. Timmons Wealth Management LLC purchased a new position in shares of Apple in the 4th quarter valued at $69,000. Finally, Inspire Investing LLC bought a new position in shares of Apple in the 4th quarter worth $76,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity

In other news, insider Ben Borders sold 116 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at $3,675,650. This trade represents a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 2,924 shares of company stock worth $825,546. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 0.4%

NASDAQ AAPL opened at $327.74 on Wednesday. Apple Inc. has a 12-month low of $201.50 and a 12-month high of $334.99. The company has a fifty day simple moving average of $304.95 and a two-hundred day simple moving average of $277.89. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The stock has a market cap of $4.81 trillion, a P/E ratio of 39.63, a P/E/G ratio of 2.84 and a beta of 1.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, analysts forecast that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. This is an increase from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is presently 13.06%.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of analyst reports. BNP Paribas Exane upgraded Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price objective for the company in a research note on Friday, April 17th. Oppenheimer reiterated a “market perform” rating on shares of Apple in a research note on Tuesday, June 9th. UBS Group set a $365.00 target price on shares of Apple in a report on Tuesday. HSBC raised Apple from a “hold” rating to a “buy” rating and upped their target price for the company from $260.00 to $366.00 in a research report on Thursday, July 16th. Finally, Tigress Financial reissued a “strong-buy” rating and issued a $375.00 price target (up from $305.00) on shares of Apple in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $325.71.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly launching a new device leasing program with Klarna, a major change to how it sells hardware that could support upgrade demand and recurring device sales. Reuters: Apple to launch ‘Upgrade’ device leasing program to spur sales, Bloomberg News reports
• Positive Sentiment: HSBC upgraded Apple, saying it is entering a powerful new upgrade cycle supported by AI and a strong hardware roadmap. Barchart: HSBC Says Apple Is Entering a Powerful New Upgrade Cycle
• Positive Sentiment: Several commentators highlighted Apple’s pricing power, strong installed base, and relative insulation from the AI capex arms race as reasons investors are favoring AAPL over some other mega-cap tech names. MarketBeat: Apple Stock Sends Major Warning Signal as Momentum Hits Peak

Apple Company Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.