Lorne Steinberg Wealth Management Inc. Boosts Stock Position in Apple Inc. $AAPL

Lorne Steinberg Wealth Management Inc. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,975 shares of the iPhone maker’s stock after buying an additional 260 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Apple were worth $3,278,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Kingstone Capital Partners Texas LLC increased its stake in shares of Apple by 573,627.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares in the last quarter. Nuveen LLC purchased a new position in Apple in the 1st quarter valued at about $17,472,482,000. Northern Trust Corp boosted its holdings in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after buying an additional 20,079,472 shares during the last quarter. Amundi increased its stake in Apple by 27.4% during the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after buying an additional 14,651,321 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 valued at $26,220,566,000 after acquiring an additional 13,137,968 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is owned by company insiders.

Apple Price Performance

AAPL stock opened at $268.56 on Thursday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $277.32. 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 $3.97 trillion, a price-to-earnings ratio of 40.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. The business has a fifty day moving average of $258.01 and a two-hundred day moving average of $228.15.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $1.64 EPS. As a group, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s dividend payout ratio is currently 13.92%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research analyst reports. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. DZ Bank raised shares of Apple from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Tuesday, November 4th. CLSA raised shares of Apple to a “strong-buy” rating in a report on Sunday, October 5th. Argus set a $325.00 target price on shares of Apple and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Wedbush restated an “outperform” rating on shares of Apple in a research report on Tuesday, October 21st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $278.22.

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.