Lehman & Derafelo Financial Resources LLC Sells 1,345 Shares of Apple Inc. (NASDAQ:AAPL)

Lehman & Derafelo Financial Resources LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,424 shares of the iPhone maker’s stock after selling 1,345 shares during the quarter. Apple makes up approximately 1.8% of Lehman & Derafelo Financial Resources LLC’s holdings, making the stock its 12th biggest position. Lehman & Derafelo Financial Resources LLC’s holdings in Apple were worth $5,587,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. Bluestem Financial Advisors LLC raised its holdings in shares of Apple by 5,935.2% during the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 229,929 shares in the last quarter. HBC Financial Services PLLC raised its holdings in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares in the last quarter. Ramsey Quantitative Systems purchased a new stake in shares of Apple during the 2nd quarter worth approximately $55,000. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Apple during the 3rd quarter worth approximately $55,000. Finally, Newfound Research LLC purchased a new stake in shares of Apple during the 3rd quarter worth approximately $67,000. 57.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Tuesday, November 8th. Bank of America decreased their price target on Apple from $160.00 to $154.00 and set a “neutral” rating on the stock in a report on Monday, November 7th. UBS Group set a $180.00 price target on Apple in a report on Thursday, January 12th. Citigroup restated a “buy” rating and set a $175.00 price target on shares of Apple in a report on Tuesday, November 8th. Finally, Morgan Stanley decreased their price target on Apple from $177.00 to $175.00 and set an “overweight” rating on the stock in a report on Tuesday, November 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $171.22.

Apple Price Performance

Shares of AAPL stock opened at $135.94 on Wednesday. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61. The stock’s 50-day moving average is $139.18 and its 200 day moving average is $148.28. The company has a market cap of $2.16 trillion, a P/E ratio of 22.25, a PEG ratio of 1.74 and a beta of 1.24. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The business had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. During the same period in the previous year, the company earned $1.24 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts predict that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.68%. The ex-dividend date was Friday, November 4th. Apple’s dividend payout ratio is currently 15.06%.

Insider Buying and Selling at Apple

In other news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 110,673 shares in the company, valued at $17,259,454.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Apple news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the sale, the insider now directly owns 31,505 shares in the company, valued at $4,685,423.60. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Apple Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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