Apple Inc. (NASDAQ:AAPL) is Lee Financial Co's 6th Largest Position

Lee Financial Co reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 116,838 shares of the iPhone maker's stock after selling 4,228 shares during the period. Apple accounts for approximately 4.1% of Lee Financial Co's portfolio, making the stock its 6th largest holding. Lee Financial Co's holdings in Apple were worth $29,259,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp grew its holdings in Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after acquiring an additional 20,483,787 shares during the period. FMR LLC grew its stake in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after acquiring an additional 18,224,005 shares in the last quarter. Strategic Financial Concepts LLC increased its holdings in Apple by 25,285.2% during the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock worth $2,411,260,000 after acquiring an additional 9,590,933 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Apple by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker's stock worth $22,121,656,000 after purchasing an additional 5,893,741 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. This represents a 3.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now owns 179,158 shares of the company's stock, valued at $40,072,269.86. The trade was a 17.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 182,451 shares of company stock valued at $40,818,720. Corporate insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Bank of America decreased their price target on shares of Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Monness Crespi & Hardt upped their price objective on shares of Apple to $245.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Citigroup dropped their target price on shares of Apple from $275.00 to $245.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $225.00 price target on shares of Apple in a report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.88.

Apple Stock Up 1.4 %

Shares of NASDAQ:AAPL traded up $2.87 during trading on Thursday, hitting $207.47. The stock had a trading volume of 24,372,930 shares, compared to its average volume of 56,694,602. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 12 month low of $166.21 and a 12 month high of $260.10. The company has a market capitalization of $3.12 trillion, a PE ratio of 32.96, a PEG ratio of 2.44 and a beta of 1.26. The firm's fifty day moving average is $217.14 and its 200 day moving average is $229.52.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating 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%. Analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, February 10th. Apple's dividend payout ratio (DPR) is presently 15.87%.

About Apple

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.