Lbmc Investment Advisors LLC Has $14.39 Million Position in Apple Inc. (NASDAQ:AAPL)

Lbmc Investment Advisors LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 64,765 shares of the iPhone maker's stock after purchasing an additional 3,120 shares during the quarter. Apple comprises approximately 1.1% of Lbmc Investment Advisors LLC's holdings, making the stock its 16th largest holding. Lbmc Investment Advisors LLC's holdings in Apple were worth $14,386,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OneAscent Wealth Management LLC raised its stake in shares of Apple by 4.6% during the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after purchasing an additional 409 shares during the period. Allstate Corp boosted its position in Apple by 3,368.2% in the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after buying an additional 438,471 shares during the last quarter. Vinva Investment Management Ltd increased its position in shares of Apple by 12.4% during the fourth quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock worth $192,700,000 after acquiring an additional 83,997 shares during the last quarter. Tradewinds Capital Management LLC lifted its stake in shares of Apple by 9.2% in the fourth quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock worth $5,308,000 after acquiring an additional 1,779 shares in the last quarter. Finally, Berkshire Bank grew its stake in Apple by 2.7% during the 4th quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock valued at $22,433,000 after purchasing an additional 2,360 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AAPL shares. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. UBS Group set a $210.00 price target on shares of Apple and gave the company a "neutral" rating in a report on Thursday. Citigroup reiterated a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. Monness Crespi & Hardt raised their price objective on shares of Apple to $245.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, TD Cowen cut their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $234.95.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,486 shares of the 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 completion of the sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Apple Price Performance

AAPL stock traded up $0.92 during trading on Thursday, hitting $213.36. The company had a trading volume of 34,926,355 shares, compared to its average volume of 53,553,501. The business has a 50 day moving average of $203.16 and a 200 day moving average of $219.40. The firm has a market capitalization of $3.19 trillion, a price-to-earnings ratio of 33.23, a P/E/G ratio of 2.32 and a beta of 1.20. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.53 earnings per share. As a group, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

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

Apple declared that its board has authorized a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

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.