Apple Inc. $AAPL is Lipe & Dalton's Largest Position

Key Points

• Lipe & Dalton has reduced its position in Apple Inc. by 4.1% to 71,998 shares, making Apple their largest holding at approximately $15.99 million as of the latest SEC filing.
• Apple reported $94.04 billion in revenue for the most recent quarter, exceeding analysts' expectations of $88.64 billion, with earnings per share of $1.57 beating estimates.
• The company declared a quarterly dividend of $0.26 per share, representing a 0.4% dividend yield, with a payout ratio of 15.78%.

Lipe & Dalton reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,998 shares of the iPhone maker's stock after selling 3,107 shares during the quarter. Apple accounts for 8.9% of Lipe & Dalton's portfolio, making the stock its largest position. Lipe & Dalton's holdings in Apple were worth $15,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Apple by 3.7% in 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 purchasing an additional 49,168,843 shares during the last quarter. Geode Capital Management LLC raised its position in 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 period. Norges Bank purchased a new stake in Apple during the 4th quarter worth about $46,868,648,000. Northern Trust Corp lifted its position in 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 purchasing an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Apple by 14.3% during the 4th 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 buying an additional 13,137,968 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AAPL. Bank of America reiterated a "buy" rating and issued a $250.00 price target on shares of Apple in a report on Monday, August 25th. Loop Capital cut their price objective on Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a report on Thursday, August 21st. Rosenblatt Securities reaffirmed a "neutral" rating and set a $217.00 target price on shares of Apple in a research note on Tuesday, July 29th. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating in a report on Friday, July 18th. Finally, Wedbush reissued an "outperform" rating and issued a $270.00 target price on shares of Apple in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.37.

Apple Price Performance

Shares of NASDAQ:AAPL traded down $0.42 during midday trading on Friday, hitting $232.14. 39,382,353 shares of the stock were exchanged, compared to its average volume of 58,935,340. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a 50 day moving average price of $215.79 and a 200-day moving average price of $212.91. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.45 trillion, a P/E ratio of 35.23, a PEG ratio of 2.42 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company 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%.The company's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $1.40 earnings per share. On average, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

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

Insider Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

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.