White Lighthouse Investment Management Inc. Reduces Holdings in Apple Inc. $AAPL

Key Points

• White Lighthouse Investment Management Inc. has reduced its holdings in Apple Inc. by 5.7%, now owning 29,551 shares valued at approximately $6.56 million.
• Major institutional investors, including Vanguard Group and Geode Capital Management, have also increased their stakes in Apple, indicative of strong interest in the stock.
• Apple recently reported a quarterly revenue of $94.04 billion, surpassing analysts' expectations, and announced a quarterly dividend of $0.26 per share.

White Lighthouse Investment Management Inc. trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,551 shares of the iPhone maker's stock after selling 1,770 shares during the period. Apple makes up 1.2% of White Lighthouse Investment Management Inc.'s investment portfolio, making the stock its 19th largest holding. White Lighthouse Investment Management Inc.'s holdings in Apple were worth $6,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Vanguard Group Inc. lifted its stake in shares of Apple by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker's stock worth $311,157,662,000 after acquiring an additional 5,005,297 shares during the period. Geode Capital Management LLC raised its position in Apple by 1.9% during 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 last quarter. Norges Bank acquired a new position in Apple during the fourth quarter worth about $46,868,648,000. Northern Trust Corp raised 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 worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Apple by 14.3% during the fourth 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 worth $26,220,566,000 after buying an additional 13,137,968 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction that occurred on 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 in the company, 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 is accessible through this link. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent research reports. The Goldman Sachs Group reiterated a "buy" rating and set a $266.00 price target on shares of Apple in a report on Tuesday, August 26th. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a research note on Wednesday, August 13th. JPMorgan Chase & Co. boosted their target price on shares of Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Barclays upped their price target on shares of Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a report on Friday, August 1st. Finally, Citigroup boosted their target price on shares of Apple from $240.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $238.99.

Apple Price Performance

AAPL stock opened at $237.88 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 one year low of $169.21 and a one year high of $260.10. The firm has a market capitalization of $3.53 trillion, a PE ratio of 36.10, a P/E/G ratio of 2.50 and a beta of 1.11. The firm has a 50-day moving average of $219.93 and a two-hundred day moving average of $212.35.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data 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 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 business's quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 earnings per share. On average, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current 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 issued a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple's dividend payout ratio is currently 15.78%.

Apple 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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