Apple Inc. (NASDAQ:AAPL) Shares Sold by Lummis Asset Management LP

Lummis Asset Management LP decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 10.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,308 shares of the iPhone maker's stock after selling 4,210 shares during the period. Apple makes up about 11.8% of Lummis Asset Management LP's holdings, making the stock its 2nd biggest position. Lummis Asset Management LP's holdings in Apple were worth $9,343,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Bull Oak Capital LLC lifted its stake in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock worth $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new stake in Apple in the 2nd quarter valued at $42,000. SPX Gestao de Recursos Ltda acquired a new stake in Apple in the 3rd quarter valued at $71,000. Christopher J. Hasenberg Inc increased its holdings in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock valued at $69,000 after purchasing an additional 144 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in Apple in the 3rd quarter valued at $77,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Apple Price Performance

NASDAQ:AAPL traded down $0.19 during midday trading on Wednesday, hitting $235.74. 47,184,984 shares of the stock were exchanged, compared to its average volume of 53,560,264. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The company has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 37.42, a P/E/G ratio of 2.44 and a beta of 1.20. The business has a 50-day moving average price of $238.81 and a two-hundred day moving average price of $233.92. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, February 10th. Apple's payout ratio is 15.87%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Loop Capital downgraded Apple from a "buy" rating to a "hold" rating and set a $230.00 target price for the company. in a research note on Tuesday, January 21st. TD Cowen restated a "buy" rating on shares of Apple in a research note on Tuesday, January 28th. Bank of America raised their target price on Apple from $253.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Wedbush restated an "outperform" rating and set a $325.00 target price on shares of Apple in a research note on Monday. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $243.88.

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.