Lake Hills Wealth Management LLC Cuts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Lake Hills Wealth Management LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the 3rd quarter, Holdings Channel reports. The firm owned 10,766 shares of the iPhone maker’s stock after selling 100 shares during the period. Apple makes up 1.7% of Lake Hills Wealth Management LLC’s investment portfolio, making the stock its 23rd largest holding. Lake Hills Wealth Management LLC’s holdings in Apple were worth $2,508,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AAPL. Sunflower Bank N.A. lifted its holdings in shares of Apple by 8.3% in the 3rd quarter. Sunflower Bank N.A. now owns 13,661 shares of the iPhone maker’s stock valued at $3,183,000 after acquiring an additional 1,042 shares during the last quarter. Stonekeep Investments LLC increased its position in shares of Apple by 1.5% during the 3rd quarter. Stonekeep Investments LLC now owns 6,627 shares of the iPhone maker’s stock valued at $1,544,000 after purchasing an additional 95 shares during the last quarter. Sound Income Strategies LLC lifted its position in Apple by 1.4% in the third quarter. Sound Income Strategies LLC now owns 88,531 shares of the iPhone maker’s stock worth $20,628,000 after buying an additional 1,262 shares during the last quarter. Bright Financial Advisors Inc. boosted its stake in Apple by 1.0% during the third quarter. Bright Financial Advisors Inc. now owns 16,767 shares of the iPhone maker’s stock worth $3,907,000 after buying an additional 163 shares during the period. Finally, Guardian Investment Management increased its position in Apple by 7.2% during the third quarter. Guardian Investment Management now owns 98,729 shares of the iPhone maker’s stock valued at $23,004,000 after acquiring an additional 6,647 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 35.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 1.0 %

Shares of NASDAQ AAPL opened at $239.59 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $240.79. The company has a market capitalization of $3.62 trillion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 2.33 and a beta of 1.24. The firm’s 50-day moving average is $229.02 and its two-hundred day moving average is $220.02.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 earnings per share. Equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AAPL. UBS Group reissued a “neutral” rating and issued a $236.00 price objective on shares of Apple in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Friday, November 1st. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of Apple in a report on Friday. Finally, Citigroup raised their price target on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $235.68.

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.