Lifestyle Asset Management Inc. Purchases 2,165 Shares of Apple Inc. $AAPL

Key Points

• Lifestyle Asset Management Inc. increased its position in Apple Inc. by 26.9%, owning a total of 10,215 shares after purchasing an additional 2,165 shares in the second quarter.
• Apple Inc. recently announced a quarterly dividend of $0.26 per share, representing an annualized dividend of $1.04 and a dividend yield of 0.4%.
• The company's stock is rated with a consensus rating of "Moderate Buy" and has a target price averaging $244.03 according to research analysts.

Lifestyle Asset Management Inc. increased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 26.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,215 shares of the iPhone maker's stock after buying an additional 2,165 shares during the period. Apple accounts for 1.0% of Lifestyle Asset Management Inc.'s portfolio, making the stock its 19th largest holding. Lifestyle Asset Management Inc.'s holdings in Apple were worth $2,096,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. ROSS JOHNSON & Associates LLC lifted its position in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after buying an additional 180 shares during the last quarter. Life Planning Partners Inc bought a new stake in Apple during the fourth quarter worth approximately $47,000. Elite Financial Inc. bought a new stake in Apple during the first quarter worth approximately $58,000. Conquis Financial LLC bought a new stake in shares of Apple during the 4th quarter worth $63,000. Finally, LSV Asset Management bought a new stake in Apple during the fourth quarter valued at about $65,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. DA Davidson reiterated a "neutral" rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 11th. Sanford C. Bernstein assumed coverage on shares of Apple in a research note on Monday, September 15th. They set an "outperform" rating and a $290.00 price objective on the stock. Needham & Company LLC reissued a "hold" rating on shares of Apple in a report on Friday, July 25th. Melius Research set a $290.00 price objective on Apple and gave the company a "buy" rating in a research report on Wednesday, September 10th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $266.00 price target on shares of Apple in a research report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.03.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction 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 $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of AAPL opened at $256.08 on Tuesday. 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 Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm has a fifty day simple moving average of $225.30 and a 200 day simple moving average of $212.22. The stock has a market capitalization of $3.80 trillion, a price-to-earnings ratio of 38.86, a PEG ratio of 2.55 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 (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for 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%.Apple's revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.40 earnings per share. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

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