Leibman Financial Services Inc. Sells 1,311 Shares of Apple Inc. $AAPL

Key Points

• Leibman Financial Services Inc. reduced its stake in Apple Inc. by 9.1%, now holding 13,061 shares worth approximately $2.68 million, making Apple its 25th largest investment.
• Several institutional investors have increased their positions in Apple, with ROSS JOHNSON & Associates LLC boosting theirs by 1,800% in the 1st quarter.
• Apple recently announced a quarterly dividend of $0.26, with a dividend yield of 0.4%, reflecting a consistent profit distribution to shareholders.

Leibman Financial Services Inc. lessened its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 9.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,061 shares of the iPhone maker's stock after selling 1,311 shares during the period. Apple comprises approximately 2.1% of Leibman Financial Services Inc.'s holdings, making the stock its 25th biggest holding. Leibman Financial Services Inc.'s holdings in Apple were worth $2,680,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. ROSS JOHNSON & Associates LLC lifted its position in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after buying an additional 180 shares in the last quarter. Conquis Financial LLC acquired a new position in Apple during the 4th quarter worth about $63,000. LSV Asset Management acquired a new position in Apple during the 4th quarter worth about $65,000. Elite Financial Inc. acquired a new position in Apple during the 1st quarter worth about $58,000. Finally, HFM Investment Advisors LLC acquired a new position in Apple during the 1st quarter worth about $99,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AAPL shares. Barclays upped their price target on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. BMO Capital Markets restated a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Monness Crespi & Hardt upped their target price on shares of Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. The Goldman Sachs Group restated a "buy" rating and set a $266.00 target price on shares of Apple in a research report on Tuesday, August 26th. Finally, Loop Capital cut their target price on shares of Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $244.03.

Apple Trading Down 0.6%

NASDAQ:AAPL opened at $254.43 on Wednesday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. 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 $226.20 and a two-hundred day moving average price of $212.51. The company has a market cap of $3.78 trillion, a P/E ratio of 38.61, a price-to-earnings-growth ratio of 2.66 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $88.64 billion. During the same period last year, the business earned $1.40 earnings per share. The firm's revenue was up 9.6% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

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