Apple Inc. (NASDAQ:AAPL) Shares Sold by Twin Lakes Capital Management LLC

Twin Lakes Capital Management LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 82,629 shares of the iPhone maker’s stock after selling 2,024 shares during the quarter. Apple comprises 10.0% of Twin Lakes Capital Management LLC’s holdings, making the stock its 2nd biggest position. Twin Lakes Capital Management LLC’s holdings in Apple were worth $17,403,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of AAPL. Granite Investment Partners LLC lifted its holdings in shares of Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares during the last quarter. Bellwether Advisors LLC raised its stake in Apple by 387.3% during the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares during the last quarter. Gentry Private Wealth LLC bought a new stake in Apple in the 2nd quarter valued at $876,000. Independent Advisor Alliance grew its position in Apple by 0.9% in the 2nd quarter. Independent Advisor Alliance now owns 920,737 shares of the iPhone maker’s stock worth $193,926,000 after purchasing an additional 8,028 shares during the last quarter. Finally, WT Asset Management Ltd acquired a new stake in Apple in the 2nd quarter worth $80,057,000. Institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 404,040 shares of company stock worth $91,062,512 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Down 1.4 %

NASDAQ AAPL opened at $225.00 on Friday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The business has a 50 day moving average price of $226.96 and a 200-day moving average price of $215.60. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.40 trillion, a price-to-earnings ratio of 37.01, a P/E/G ratio of 2.21 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the company posted $1.46 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts expect 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 was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AAPL. Piper Sandler reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Loop Capital lowered their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Oppenheimer reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price target on shares of Apple in a report on Tuesday, September 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

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.