Lutz Financial Services LLC Purchases Shares of 9,488 Apple Inc. (NASDAQ:AAPL)

Lutz Financial Services LLC acquired a new position in Apple Inc. (NASDAQ:AAPLGet Rating) during the third quarter, Holdings Channel reports. The institutional investor acquired 9,488 shares of the iPhone maker’s stock, valued at approximately $1,311,000.

Several other large investors have also made changes to their positions in AAPL. Ramsey Quantitative Systems acquired a new stake in Apple in the 2nd quarter worth $55,000. Morgan Dempsey Capital Management LLC bought a new stake in shares of Apple in the third quarter valued at about $55,000. HBC Financial Services PLLC grew its position in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares in the last quarter. Newfound Research LLC bought a new position in Apple during the third quarter valued at about $67,000. Finally, Emerson Wealth LLC raised its holdings in Apple by 27.0% in the 2nd quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 110 shares in the last quarter. Institutional investors and hedge funds own 57.60% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several recent research reports. Barclays decreased their price objective on Apple from $144.00 to $133.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 11th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Wedbush reduced their price objective on shares of Apple from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, January 4th. Canaccord Genuity Group lowered their target price on shares of Apple from $200.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Oppenheimer cut their price target on shares of Apple from $190.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, December 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $170.04.

Apple Stock Performance

Apple stock opened at $135.27 on Friday. The company has a market cap of $2.14 trillion, a PE ratio of 22.14, a PEG ratio of 1.74 and a beta of 1.24. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $179.61. The company’s 50-day moving average is $138.95 and its two-hundred day moving average is $148.10.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were issued 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 0.68%. Apple’s dividend payout ratio is presently 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 stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Luca Maestri sold 176,299 shares of the business’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 approximately $17,259,454.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the sale, the insider now directly owns 31,505 shares in the company, valued at approximately $4,685,423.60. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

About Apple

(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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