LJI Wealth Management LLC Sells 1,231 Shares of Apple Inc. $AAPL

Key Points

• LJI Wealth Management LLC has decreased its stake in Apple Inc. by 1.9% in the first quarter, now holding 65,257 shares worth approximately $14.5 million.
• In the latest quarter, Apple reported earnings of $1.57 per share and revenue of $94.04 billion, surpassing analyst expectations and showing a 9.6% year-over-year revenue increase.
• Apple recently declared a quarterly dividend of $0.26, which represents an annual yield of 0.4%, with a dividend payout ratio of 15.78%.

LJI Wealth Management LLC cut its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,257 shares of the iPhone maker's stock after selling 1,231 shares during the period. Apple comprises about 2.9% of LJI Wealth Management LLC's portfolio, making the stock its 8th largest position. LJI Wealth Management LLC's holdings in Apple were worth $14,496,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position 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 acquiring an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC lifted its position in Apple by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after acquiring an additional 6,307,413 shares in the last quarter. Norges Bank bought a new stake in Apple in the 4th quarter valued at $46,868,648,000. Northern Trust Corp lifted its position in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Apple by 14.3% in 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 acquiring an additional 13,137,968 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Down 0.2%

AAPL opened at $232.14 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 stock has a market cap of $3.45 trillion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.43 and a beta of 1.16. The company has a fifty day moving average of $215.79 and a 200-day moving average of $213.08. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

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

Apple Announces Dividend

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

Insider Buying and Selling at Apple

In other Apple 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 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 is accessible through this hyperlink. Company insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AAPL shares. Raymond James Financial reissued an "outperform" rating and set a $240.00 price target (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Bank of America reiterated a "buy" rating and issued a $250.00 price target on shares of Apple in a research note on Monday, August 25th. Rosenblatt Securities reiterated a "neutral" rating and issued a $217.00 price target 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 research note on Friday, July 18th. Finally, Morgan Stanley upped their price target on shares of Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $237.37.

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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