Lee Johnson Capital Management LLC Decreases Stock Position in Apple Inc. $AAPL

Key Points

• Lee Johnson Capital Management LLC significantly reduced its stake in Apple Inc. by 73%, bringing its total holdings to 7,811 shares valued at approximately $1.6 million.
• Apple's recent quarterly earnings showed an EPS of $1.57, exceeding expectations, and a revenue of $94.04 billion, which was up 9.6% year-over-year.
• The company declared a quarterly dividend of $0.26 per share, with an annualized yield of 0.4%, reflecting a dividend payout ratio of 15.78%.

Lee Johnson Capital Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 73.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,811 shares of the iPhone maker's stock after selling 21,139 shares during the period. Lee Johnson Capital Management LLC's holdings in Apple were worth $1,603,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Burkett Financial Services LLC boosted its holdings in shares of Apple by 0.6% in the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after acquiring an additional 93 shares during the period. Avid Wealth Partners LLC boosted its holdings in shares of Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after acquiring an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC boosted its holdings in shares of Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock worth $13,772,000 after acquiring an additional 240 shares during the period. American National Bank & Trust boosted its holdings in shares of Apple by 2.4% in the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker's stock worth $40,107,000 after acquiring an additional 4,543 shares during the period. Finally, Andina Capital Management LLC boosted its holdings in shares of Apple by 209.2% in the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker's stock worth $1,507,000 after acquiring an additional 4,591 shares during the period. 67.73% of the stock is owned by institutional investors.

Apple Trading Up 2.0%

Shares of AAPL stock opened at $252.29 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The business has a 50-day moving average price of $241.13 and a two-hundred day moving average price of $216.86. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a market cap of $3.74 trillion, a P/E ratio of 38.28, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09.

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

Apple Announces Dividend

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

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 stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 value of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $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. Insiders have sold 259,121 shares of company stock valued at $65,358,981 in the last 90 days. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AAPL. Citigroup reaffirmed a "buy" rating on shares of Apple in a report on Wednesday, September 10th. Tigress Financial lifted their price objective on Apple from $300.00 to $305.00 and gave the company a "strong-buy" rating in a research note on Wednesday, September 17th. Barclays lifted their price objective on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. Wedbush set a $310.00 price objective on Apple and gave the company an "outperform" rating in a research note on Monday, September 22nd. Finally, Sanford C. Bernstein started coverage on Apple in a research note on Monday, September 15th. They set an "outperform" rating and a $290.00 price objective for the company. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $248.29.

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.

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