Lake Street Private Wealth LLC Sells 41,462 Shares of Apple Inc. (NASDAQ:AAPL)

Lake Street Private Wealth LLC lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 19.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 176,331 shares of the iPhone maker's stock after selling 41,462 shares during the quarter. Apple makes up about 6.6% of Lake Street Private Wealth LLC's holdings, making the stock its biggest position. Lake Street Private Wealth LLC's holdings in Apple were worth $41,085,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of AAPL. Swedbank AB acquired a new stake in shares of Apple during the 1st quarter worth about $3,026,492,000. Strategic Financial Concepts LLC boosted its position in Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker's stock worth $1,603,000 after acquiring an additional 7,558,826 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Apple in the 2nd quarter worth approximately $834,368,000. Ameriprise Financial Inc. grew its stake in Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker's stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares during the period. Finally, Tairen Capital Ltd acquired a new position in Apple in the 2nd quarter valued at $588,952,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 508,170 shares of company stock valued at $117,004,745. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AAPL. Barclays lowered their price objective on Apple from $186.00 to $184.00 and set an "underweight" rating for the company in a research report on Friday, November 1st. Evercore ISI restated a "buy" rating and issued a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Moffett Nathanson cut their price objective on shares of Apple from $211.00 to $202.00 and set a "neutral" rating on the stock in a report on Tuesday, November 19th. Loop Capital decreased their target price on shares of Apple from $300.00 to $275.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Finally, Bank of America upped their price target on shares of Apple to $256.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple currently has an average rating of "Moderate Buy" and a consensus target price of $236.78.

Apple Stock Performance

Shares of AAPL traded up $4.70 during mid-day trading on Friday, reaching $254.49. 145,580,875 shares of the company's stock traded hands, compared to its average volume of 57,671,145. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The business's 50-day moving average price is $234.97 and its 200-day moving average price is $225.70. The stock has a market capitalization of $3.85 trillion, a P/E ratio of 41.86, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $255.00.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the previous year, the business earned $1.46 EPS. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. Apple's dividend payout ratio is presently 16.45%.

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.