Apple Inc. $AAPL is LGT Capital Partners LTD.'s 4th Largest Position

Key Points

• LGT Capital Partners LTD. reduced its stake in Apple Inc. by 3.6%, now holding 525,525 shares valued at approximately $116.7 million, making it the fund's fourth largest holding.
• Insider selling was observed, with SVP Deirdre O'brien selling 34,821 shares, representing a 20.30% decrease in her ownership, valued at over $7.7 million.
• Apple's recent quarterly earnings reported $1.57 earnings per share, exceeding expectations, indicating a strong 24.30% net margin and 9.6% revenue growth year-over-year.

LGT Capital Partners LTD. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 525,525 shares of the iPhone maker's stock after selling 19,454 shares during the period. Apple comprises approximately 5.2% of LGT Capital Partners LTD.'s portfolio, making the stock its 4th largest position. LGT Capital Partners LTD.'s holdings in Apple were worth $116,735,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Tallon Kerry Patrick bought a new stake in Apple in the fourth quarter valued at approximately $1,877,000. First National Bank of Hutchinson grew its stake in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after purchasing an additional 6,982 shares in the last quarter. Eagle Capital Management LLC lifted its position in Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after acquiring an additional 272 shares during the last quarter. Brighton Jones LLC lifted its stake in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after acquiring an additional 69,207 shares during the period. Finally, Revolve Wealth Partners LLC boosted its stake in Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after purchasing an additional 2,695 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Activity

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares of the company's stock, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

AAPL has been the topic of several research analyst reports. DA Davidson reissued a "buy" rating and set a $250.00 target price on shares of Apple in a research report on Friday, August 1st. Citigroup lifted their price target on shares of Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Monness Crespi & Hardt lifted their target price on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Rosenblatt Securities restated a "neutral" rating and set a $217.00 price objective on shares of Apple in a research report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $238.99.

Apple Trading Down 0.8%

AAPL traded down $1.94 during trading on Monday, reaching $237.75. 26,928,241 shares of the company's stock were exchanged, compared to its average volume of 56,577,613. The firm has a fifty day moving average price of $219.28 and a two-hundred day moving average price of $212.40. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The stock has a market capitalization of $3.53 trillion, a PE ratio of 36.07, a price-to-earnings-growth ratio of 2.50 and a beta of 1.11. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

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

Apple Announces Dividend

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

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.