Lyell Wealth Management LP Buys 308 Shares of Apple Inc. (NASDAQ:AAPL)

Lyell Wealth Management LP grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,308 shares of the iPhone maker’s stock after purchasing an additional 308 shares during the quarter. Apple makes up about 2.2% of Lyell Wealth Management LP’s portfolio, making the stock its 11th biggest holding. Lyell Wealth Management LP’s holdings in Apple were worth $5,254,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. Contravisory Investment Management Inc. increased its stake in Apple by 30.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock worth $97,000 after purchasing an additional 144 shares during the period. CKW Financial Group boosted its holdings in shares of Apple by 15.0% in the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after acquiring an additional 105 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Apple in the fourth quarter valued at approximately $181,000. Brand Asset Management Group Inc. boosted its holdings in shares of Apple by 75.3% in the fourth quarter. Brand Asset Management Group Inc. now owns 1,152 shares of the iPhone maker’s stock valued at $182,000 after acquiring an additional 495 shares during the period. Finally, Sequoia Wealth Management LLC acquired a new stake in shares of Apple in the fourth quarter valued at approximately $200,000. 58.54% of the stock is owned by institutional investors.

Several equities research analysts have recently weighed in on the company. Piper Jaffray Companies increased their price objective on Apple from $201.00 to $230.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Sanford C. Bernstein set a $190.00 price objective on Apple and gave the company a “neutral” rating in a report on Wednesday, May 1st. Morgan Stanley increased their price objective on Apple from $234.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Jefferies Financial Group increased their price target on Apple from $160.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, Loop Capital increased their price objective on Apple to $190.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Three analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $209.12.

In related news, insider Luca Maestri sold 51,138 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $196.61, for a total transaction of $10,054,242.18. Following the transaction, the insider now directly owns 27,448 shares of the company’s stock, valued at $5,396,551.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 56,411 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $210.36, for a total value of $11,866,617.96. Following the completion of the transaction, the chief operating officer now directly owns 151,187 shares in the company, valued at $31,803,697.32. The disclosure for this sale can be found here. Insiders have sold 142,549 shares of company stock worth $29,300,960 over the last ninety days. 0.05% of the stock is owned by insiders.

Shares of Apple stock traded up $3.63 during trading on Monday, hitting $201.55. The stock had a trading volume of 24,891,887 shares, compared to its average volume of 29,917,178. The firm’s fifty day simple moving average is $189.22. The stock has a market capitalization of $910.64 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 1.68 and a beta of 1.23. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.32. Apple Inc. has a fifty-two week low of $142.00 and a fifty-two week high of $233.47.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.09. The company had revenue of $58.02 billion for the quarter, compared to analyst estimates of $57.40 billion. Apple had a return on equity of 51.29% and a net margin of 22.12%. Apple’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.73 earnings per share. On average, analysts predict that Apple Inc. will post 11.47 earnings per share for the current year.

Apple declared that its Board of Directors has authorized a stock repurchase program on Tuesday, April 30th that permits the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

Further Reading: Why investors pay attention to retained earnings

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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