Apple Inc. (NASDAQ:AAPL) Stock Position Decreased by Lathrop Investment Management Corp

Lathrop Investment Management Corp decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,301 shares of the iPhone maker’s stock after selling 1,243 shares during the quarter. Apple comprises about 4.2% of Lathrop Investment Management Corp’s investment portfolio, making the stock its 3rd biggest holding. Lathrop Investment Management Corp’s holdings in Apple were worth $22,438,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Cohen Investment Advisors LLC raised its holdings in Apple by 0.5% in the 2nd quarter. Cohen Investment Advisors LLC now owns 46,574 shares of the iPhone maker’s stock worth $9,809,000 after acquiring an additional 239 shares during the last quarter. Callan Family Office LLC increased its holdings in shares of Apple by 157.1% in the 2nd quarter. Callan Family Office LLC now owns 47,854 shares of the iPhone maker’s stock worth $10,079,000 after purchasing an additional 29,239 shares in the last quarter. Liontrust Investment Partners LLP raised its stake in shares of Apple by 60.5% in the second quarter. Liontrust Investment Partners LLP now owns 205,466 shares of the iPhone maker’s stock worth $43,275,000 after purchasing an additional 77,466 shares during the last quarter. First Command Advisory Services Inc. lifted its holdings in shares of Apple by 1.4% during the second quarter. First Command Advisory Services Inc. now owns 40,512 shares of the iPhone maker’s stock valued at $8,533,000 after purchasing an additional 550 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Apple by 6.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,786,956 shares of the iPhone maker’s stock valued at $1,008,229,000 after buying an additional 284,217 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Morgan Stanley reissued an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Friday, December 13th. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a report on Tuesday, January 21st. Barclays dropped their target price on shares of Apple from $184.00 to $183.00 and set an “underweight” rating on the stock in a report on Wednesday, January 22nd. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Tuesday, January 21st. Finally, Bank of America reissued a “buy” rating and set a $253.00 price target (down from $256.00) on shares of Apple in a report on Friday, January 24th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $238.05.

Apple Price Performance

AAPL stock opened at $237.62 on Friday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The firm has a market capitalization of $3.57 trillion, a P/E ratio of 39.08, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The company has a fifty day simple moving average of $241.37 and a two-hundred day simple moving average of $230.81. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last released its quarterly 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 152.94% and a net margin of 23.97%. Analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. Apple’s dividend payout ratio (DPR) is 16.45%.

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.