Apple Inc. (NASDAQ:AAPL) Shares Sold by Lakewood Asset Management LLC

Lakewood Asset Management LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 15.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,012 shares of the iPhone maker's stock after selling 3,507 shares during the period. Apple makes up about 3.0% of Lakewood Asset Management LLC's holdings, making the stock its 5th biggest position. Lakewood Asset Management LLC's holdings in Apple were worth $4,430,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. China Universal Asset Management Co. Ltd. lifted its stake in Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker's stock worth $12,943,000 after acquiring an additional 42,282 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Apple by 0.9% during the first quarter. Blue Trust Inc. now owns 128,418 shares of the iPhone maker's stock worth $22,021,000 after purchasing an additional 1,106 shares during the period. Peterson Wealth Services grew its position in Apple by 1.8% during the first quarter. Peterson Wealth Services now owns 96,257 shares of the iPhone maker's stock valued at $16,506,000 after purchasing an additional 1,688 shares in the last quarter. Fairhaven Wealth Management LLC increased its stake in Apple by 17.9% in the 1st quarter. Fairhaven Wealth Management LLC now owns 79,503 shares of the iPhone maker's stock valued at $13,633,000 after buying an additional 12,097 shares during the period. Finally, KFA Private Wealth Group LLC lifted its position in Apple by 6.0% in the 1st quarter. KFA Private Wealth Group LLC now owns 29,304 shares of the iPhone maker's stock worth $5,025,000 after buying an additional 1,648 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Maxim Group boosted their price target on shares of Apple from $203.00 to $215.00 and gave the company a "hold" rating in a report on Friday, November 1st. Piper Sandler restated a "neutral" rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. TD Cowen upped their target price on Apple from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. StockNews.com lowered Apple from a "buy" rating to a "hold" rating in a report on Friday, November 1st. Finally, New Street Research restated a "neutral" rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $235.25.

Apple Stock Performance

Shares of AAPL traded up $1.35 during trading hours on Friday, reaching $229.87. 38,168,252 shares of the company traded hands, compared to its average volume of 43,855,068. 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 stock's fifty day moving average is $227.73 and its 200 day moving average is $218.06. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The stock has a market cap of $3.47 trillion, a P/E ratio of 37.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple's dividend payout ratio is currently 16.45%.

Insider Activity

In other Apple news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 35.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

Apple Company 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.