Apple Inc. $AAPL Position Lowered by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 11.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,708 shares of the iPhone maker's stock after selling 1,165 shares during the period. Oliver Luxxe Assets LLC's holdings in Apple were worth $1,787,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Apple by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker's stock worth $311,157,662,000 after acquiring an additional 5,005,297 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Apple by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after acquiring an additional 6,307,413 shares during the last quarter. Kingstone Capital Partners Texas LLC lifted its holdings in Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker's stock worth $39,065,374,000 after acquiring an additional 205,656,808 shares during the last quarter. Norges Bank bought a new position in Apple in the fourth quarter worth about $46,868,648,000. Finally, Northern Trust Corp lifted its holdings in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent research reports. The Goldman Sachs Group reissued a "buy" rating and issued a $266.00 target price on shares of Apple in a report on Tuesday, August 26th. Weiss Ratings reissued a "hold (c+)" rating on shares of Apple in a report on Saturday, September 27th. DA Davidson reissued a "neutral" rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 11th. Wedbush set a $310.00 target price on shares of Apple and gave the stock an "outperform" rating in a report on Monday, September 22nd. Finally, Evercore ISI set a $290.00 price target on shares of Apple and gave the company an "outperform" rating in a research note on Friday, September 26th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Apple presently has an average rating of "Moderate Buy" and an average price target of $247.49.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 47,125 shares of the firm's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Deirdre O'brien sold 43,013 shares of the firm's stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the sale, the senior vice president owned 136,687 shares of the company's stock, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,922 shares of company stock worth $64,320,190. Corporate insiders own 0.06% of the company's stock.

Apple Price Performance

NASDAQ AAPL opened at $258.02 on Friday. The firm has a market capitalization of $3.83 trillion, a PE ratio of 39.15, a P/E/G ratio of 2.49 and a beta of 1.09. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The company's 50 day simple moving average is $233.09 and its 200 day simple moving average is $214.69.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $1.40 earnings per share. As a group, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio (DPR) is presently 15.78%.

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.

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