Apple Inc. $AAPL Shares Sold by Walled Lake Planning & Wealth Management LLC

Key Points

• Walled Lake Planning & Wealth Management LLC has reduced its Apple Inc. holdings by 3.4%, now owning 48,805 shares, making it the firm's 6th largest position.
• Analysts have recently raised their price targets for Apple Inc., with Bank of America setting theirs at $260.00 and JPMorgan Chase at $255.00, indicating strong investor confidence.
• Apple reported $1.57 earnings per share for the last quarter, surpassing estimates and showing a 9.6% increase in quarterly revenue from the previous year.

Walled Lake Planning & Wealth Management LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,805 shares of the iPhone maker's stock after selling 1,702 shares during the quarter. Apple makes up approximately 3.9% of Walled Lake Planning & Wealth Management LLC's holdings, making the stock its 6th largest holding. Walled Lake Planning & Wealth Management LLC's holdings in Apple were worth $10,841,000 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 business. Vanguard Group Inc. raised its position in shares of Apple by 3.7% during 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 during the last quarter. Geode Capital Management LLC raised its position in shares of Apple by 1.9% during 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 during the last quarter. Norges Bank bought a new stake in shares of Apple in the 4th quarter valued at $46,868,648,000. Northern Trust Corp increased its position in shares of 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 buying an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 buying an additional 13,137,968 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction dated 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 in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Down 0.0%

NASDAQ AAPL traded down $0.09 on Friday, reaching $239.69. The company had a trading volume of 54,829,143 shares, compared to its average volume of 47,688,568. The firm has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 2.50 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company's fifty day moving average is $219.28 and its 200-day moving average is $212.64.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 24.30% and a return on equity of 170.91%. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.40 EPS. On average, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AAPL shares. Evercore ISI restated an "outperform" rating and issued a $250.00 price objective on shares of Apple in a research report on Wednesday, August 13th. Raymond James Financial restated an "outperform" rating and issued a $240.00 price objective (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. UBS Group upped their price objective on shares of Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Moffett Nathanson upgraded shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 price objective for the company in a research report on Thursday. Finally, Bank of America upped their price objective on shares of Apple from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and an average price target of $239.05.

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.