Lynch Asset Management Inc. Decreases Stock Position in Apple Inc. (NASDAQ:AAPL)

Lynch Asset Management Inc. decreased its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,990 shares of the iPhone maker’s stock after selling 1,000 shares during the period. Apple comprises about 5.2% of Lynch Asset Management Inc.’s investment portfolio, making the stock its 5th biggest position. Lynch Asset Management Inc.’s holdings in Apple were worth $5,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Bluestem Financial Advisors LLC boosted its stake in shares of Apple by 5,935.2% in the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 229,929 shares in the last quarter. CFS Investment Advisory Services LLC boosted its position in Apple by 18,263.5% during the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after buying an additional 7,416,445 shares during the period. Spence Asset Management purchased a new stake in Apple during the 2nd quarter valued at $49,000. HBC Financial Services PLLC boosted its position in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares during the period. Finally, Ramsey Quantitative Systems purchased a new stake in Apple during the 2nd quarter valued at $55,000. Hedge funds and other institutional investors own 57.60% of the company’s stock.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 8,053 shares of the firm’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $142.45, for a total value of $1,147,149.85. Following the completion of the sale, the senior vice president now owns 136,290 shares in the company, valued at $19,414,510.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Deirdre O’brien sold 8,053 shares of the firm’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $142.45, for a total value of $1,147,149.85. Following the completion of the sale, the senior vice president now owns 136,290 shares in the company, valued at $19,414,510.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The disclosure for this sale can be found here. Insiders sold a total of 204,552 shares of company stock worth $31,645,123 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $133.41 on Friday. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $179.61. The company has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 1.68 and a beta of 1.24. The firm has a 50-day simple moving average of $139.41 and a 200-day simple moving average of $148.23. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. The business had revenue of $90.15 billion during the quarter, compared to the consensus estimate of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 6.19 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.69%. Apple’s payout ratio is currently 15.06%.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. Fundamental Research increased their price target on shares of Apple to $168.50 and gave the company a “buy” rating in a research report on Tuesday, November 8th. Sanford C. Bernstein dropped their price target on shares of Apple from $170.00 to $125.00 in a research report on Monday. Bank of America decreased their price objective on shares of Apple from $160.00 to $154.00 and set a “neutral” rating for the company in a report on Monday, November 7th. Barclays reduced their price target on shares of Apple from $144.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Robert W. Baird lowered their target price on shares of Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $171.93.

Apple Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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