Lyell Wealth Management LP Has $37.65 Million Stock Position in Apple Inc. $AAPL

Lyell Wealth Management LP reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 183,514 shares of the iPhone maker’s stock after selling 2,688 shares during the quarter. Apple makes up about 3.0% of Lyell Wealth Management LP’s holdings, making the stock its 4th largest position. Lyell Wealth Management LP’s holdings in Apple were worth $37,651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Financial Futures Ltd Liability Co. raised its holdings in shares of Apple by 13.2% in the 2nd quarter. Financial Futures Ltd Liability Co. now owns 3,552 shares of the iPhone maker’s stock worth $729,000 after purchasing an additional 415 shares during the period. Avid Wealth Partners LLC grew its holdings in Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after purchasing an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC increased its position in Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after buying an additional 240 shares during the last quarter. American National Bank & Trust raised its stake in shares of Apple by 2.4% in the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after buying an additional 4,543 shares during the period. Finally, Andina Capital Management LLC lifted its position in shares of Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after buying an additional 4,591 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $267.44 on Wednesday. The company has a 50 day moving average of $257.18 and a 200 day moving average of $227.87. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.95 trillion, a P/E ratio of 40.58, a P/E/G ratio of 2.62 and a beta of 1.09. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $277.32.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating the consensus estimate of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $1.64 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s payout ratio is presently 13.92%.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AAPL shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Apple in a report on Thursday, November 13th. Evercore ISI increased their target price on shares of Apple from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Morgan Stanley lifted their target price on shares of Apple from $298.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Robert W. Baird set a $300.00 price target on shares of Apple in a research note on Friday, October 31st. Finally, The Goldman Sachs Group raised their price objective on shares of Apple from $279.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.22.

Apple 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.