Apple Inc. (NASDAQ:AAPL) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 150,311 shares of the iPhone maker's stock after selling 10,715 shares during the quarter. Apple makes up 5.4% of Lake Street Private Wealth LLC's portfolio, making the stock its 2nd biggest holding. Lake Street Private Wealth LLC's holdings in Apple were worth $33,389,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AAPL. Vanguard Group Inc. grew its holdings in Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after buying an additional 49,168,843 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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. Norges Bank purchased a new stake in shares of Apple in the fourth quarter valued at $46,868,648,000. Northern Trust Corp boosted its stake in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after acquiring an additional 13,137,968 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Up 0.4%

Shares of AAPL stock traded up $0.92 during mid-day trading on Friday, reaching $213.36. The company's stock had a trading volume of 34,955,836 shares, compared to its average volume of 53,618,682. The company's 50 day simple moving average is $203.26 and its 200-day simple moving average is $219.14. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a market capitalization of $3.19 trillion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 2.37 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.53 earnings per share. On average, research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio (DPR) is presently 16.20%.

Apple declared that its board has authorized a share repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AAPL. China Renaissance initiated coverage on shares of Apple in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price for the company. Wedbush reissued an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research report on Tuesday, June 10th. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Loop Capital decreased their target price on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Finally, Raymond James Financial lowered their target price on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average target price of $234.95.

Insider Activity at Apple

In other news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer owned 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.

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.