Lmcg Investments LLC Sells 2,906 Shares of Apple Inc. $AAPL

Lmcg Investments LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 264,010 shares of the iPhone maker’s stock after selling 2,906 shares during the quarter. Apple comprises about 3.4% of Lmcg Investments LLC’s investment portfolio, making the stock its 3rd largest holding. Lmcg Investments LLC’s holdings in Apple were worth $54,167,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Avid Wealth Partners LLC grew its position in Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after buying an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC increased its stake in Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after purchasing an additional 240 shares in the last quarter. American National Bank & Trust raised its holdings in Apple by 2.4% during the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after buying an additional 4,543 shares during the period. Andina Capital Management LLC raised its holdings in Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after buying an additional 4,591 shares during the period. Finally, Plum Street Advisors LLC lifted its stake in Apple by 4.0% during the first quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock valued at $1,752,000 after buying an additional 301 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AAPL. Seaport Res Ptn raised shares of Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a research report on Thursday, September 4th. Wells Fargo & Company set a $300.00 price target on shares of Apple and gave the stock an “overweight” rating in a report on Friday, October 31st. Monness Crespi & Hardt lifted their target price on shares of Apple from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Morgan Stanley boosted their price target on shares of Apple from $298.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $278.22.

Apple Stock Performance

Shares of AAPL opened at $269.77 on Friday. The firm has a market cap of $4.00 trillion, a price-to-earnings ratio of 40.94, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The company’s fifty day moving average is $251.53 and its 200-day moving average is $224.02. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $277.32.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.64 earnings per share. Equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, November 10th. Apple’s dividend payout ratio (DPR) is presently 13.92%.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the transaction, the chief financial officer directly owned 8,765 shares in the company, valued at approximately $2,168,373.35. This represents a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 224,300 shares of company stock valued at $57,586,933 in the last quarter. Company insiders own 0.06% of the company’s stock.

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.