Apple Inc. (NASDAQ:AAPL) Stake Increased by Lincoln Capital LLC

Lincoln Capital LLC increased its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,736 shares of the iPhone maker’s stock after buying an additional 1,726 shares during the period. Apple comprises about 2.1% of Lincoln Capital LLC’s investment portfolio, making the stock its 13th largest position. Lincoln Capital LLC’s holdings in Apple were worth $7,347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Elk River Wealth Management LLC boosted its holdings in Apple by 49.0% in the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after purchasing an additional 54,989 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Apple by 8.3% in the first quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock worth $13,029,000 after purchasing an additional 5,703 shares during the period. Piscataqua Savings Bank boosted its holdings in Apple by 1.5% in the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after purchasing an additional 684 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Apple in the first quarter worth $171,000. Finally, Chico Wealth RIA acquired a new position in Apple in the first quarter worth $7,794,000. Institutional investors own 57.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AAPL. Wells Fargo & Company decreased their price objective on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Bank of America downgraded shares of Apple from a “buy” rating to a “neutral” rating and reduced their price target for the company from $185.00 to $160.00 in a report on Thursday, September 29th. Itau BBA Securities initiated coverage on shares of Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. set a $175.00 price target on shares of Apple in a report on Friday, July 29th. Finally, Monness Crespi & Hardt initiated coverage on shares of Apple in a report on Thursday, September 8th. They set a “buy” rating and a $174.00 price target for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $180.69.

Apple Trading Down 0.5 %

NASDAQ:AAPL opened at $138.34 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The stock’s 50-day moving average is $157.16 and its two-hundred day moving average is $153.99. The stock has a market cap of $2.22 trillion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 1.73 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.67%. Apple’s payout ratio is 15.18%.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 176,299 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total value of $25,062,665.84. Following the completion of the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at approximately $19,374,986.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Deirdre O’brien sold 176,299 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total value of $25,062,665.84. Following the completion of the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at approximately $19,374,986.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 298,034 shares of company stock valued at $46,105,704. 0.06% of the stock is owned by corporate insiders.

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; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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