Apple Inc. (NASDAQ:AAPL) Stock Position Reduced by Lakewood Asset Management LLC

Lakewood Asset Management LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 16.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,606 shares of the iPhone maker’s stock after selling 4,559 shares during the period. Apple makes up approximately 2.6% of Lakewood Asset Management LLC’s investment portfolio, making the stock its 8th biggest position. Lakewood Asset Management LLC’s holdings in Apple were worth $3,876,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Wyrmwood Management LLC increased its holdings in shares of Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares during the last quarter. Gilfoyle & Co LLC grew its position in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares in the last quarter. A.P. Gilfoyle & Co. L.P. bought a new stake in Apple during the fourth quarter worth approximately $39,000. University of Texas Texas AM Investment Managment Co. raised its position in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. bought a new stake in shares of Apple in the 4th quarter valued at approximately $85,000. 60.41% of the stock is owned by institutional investors.

Insider Transactions at Apple

In related news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. Insiders sold 366,271 shares of company stock valued at $63,653,887 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Down 0.3 %

Apple stock traded down $0.59 during trading hours on Friday, reaching $169.30. The stock had a trading volume of 44,717,137 shares, compared to its average volume of 53,363,952. The company has a market cap of $2.61 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 2.05 and a beta of 1.27. The business’s 50 day moving average price is $173.04 and its 200-day moving average price is $181.79. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $199.62. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. During the same quarter in the previous year, the firm earned $1.88 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 6.54 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.57%. Apple’s dividend payout ratio is presently 14.95%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AAPL. Redburn Atlantic downgraded Apple from a “buy” rating to a “neutral” rating and set a $200.00 target price on the stock. in a research report on Wednesday, January 10th. Loop Capital cut their price objective on shares of Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Citigroup restated a “buy” rating and issued a $225.00 target price on shares of Apple in a report on Friday, February 16th. Bank of America upgraded shares of Apple from a “neutral” rating to a “buy” rating and upped their price target for the company from $208.00 to $225.00 in a report on Thursday, January 18th. Finally, Piper Sandler decreased their price objective on shares of Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $203.05.

About Apple

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.