Apple Inc. (NASDAQ:AAPL) Position Trimmed by White Lighthouse Investment Management Inc.

White Lighthouse Investment Management Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 9.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 34,053 shares of the iPhone maker’s stock after selling 3,395 shares during the period. Apple comprises about 1.4% of White Lighthouse Investment Management Inc.’s portfolio, making the stock its 19th largest holding. White Lighthouse Investment Management Inc.’s holdings in Apple were worth $7,172,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Foresight Capital Management Advisors Inc. lifted its position in Apple by 0.3% during the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock worth $4,003,000 after acquiring an additional 55 shares during the last quarter. Hoese & Co LLP increased its stake in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the period. Stableford Capital II LLC lifted its position in shares of Apple by 0.3% during the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after purchasing an additional 59 shares during the last quarter. Whitcomb & Hess Inc. boosted its stake in Apple by 1.7% during the 2nd quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock valued at $746,000 after purchasing an additional 59 shares during the period. Finally, Kwmg LLC grew its holdings in Apple by 0.6% in the 1st quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock valued at $1,825,000 after buying an additional 60 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Apple Stock Performance

Apple stock opened at $220.82 on Friday. The stock has a 50-day simple moving average of $223.09 and a 200 day simple moving average of $197.26. The stock has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 34.34, a P/E/G ratio of 2.69 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. On average, research analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is 15.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AAPL shares. JPMorgan Chase & Co. increased their price objective on Apple from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Barclays reduced their price target on shares of Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Piper Sandler Companies restated a “neutral” rating and set a $225.00 price objective (up previously from $190.00) on shares of Apple in a report on Tuesday, July 9th. Rosenblatt Securities upped their price objective on shares of Apple from $260.00 to $261.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Melius Research reissued a “buy” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $238.62.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Apple news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,884 shares of company stock worth $23,723,887. Insiders own 0.06% of the company’s stock.

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.