Broderick Brian C Has $18.15 Million Stake in Apple Inc. (NASDAQ:AAPL)

Broderick Brian C lessened its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 131,304 shares of the iPhone maker’s stock after selling 954 shares during the period. Apple accounts for approximately 5.7% of Broderick Brian C’s holdings, making the stock its biggest position. Broderick Brian C’s holdings in Apple were worth $18,147,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Great West Life Assurance Co. Can purchased a new stake in shares of Apple during the 3rd quarter valued at about $1,890,884,000. Barclays PLC increased its position in shares of Apple by 53.0% during the third quarter. Barclays PLC now owns 30,235,823 shares of the iPhone maker’s stock worth $4,178,590,000 after acquiring an additional 10,471,342 shares during the period. Legal & General Group Plc increased its position in shares of Apple by 8.2% during the second quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock worth $16,889,649,000 after acquiring an additional 9,411,018 shares during the period. Vanguard Group Inc. increased its position in shares of Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Apple by 12.1% during the second quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock valued at $11,001,469,000 after purchasing an additional 8,716,964 shares in the last quarter. Institutional investors own 57.60% of the company’s stock.

Apple Stock Up 0.4 %

Shares of Apple stock opened at $145.91 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.89 and a current ratio of 0.94. Apple Inc. has a one year low of $124.17 and a one year high of $179.61. The company has a market cap of $2.31 trillion, a P/E ratio of 24.77, a PEG ratio of 1.95 and a beta of 1.29. The firm has a fifty day moving average of $141.44 and a two-hundred day moving average of $146.72.

Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). Apple had a return on equity of 163.45% and a net margin of 24.56%. The company had revenue of $117.15 billion for the quarter, compared to analyst estimates of $121.67 billion. During the same period last year, the company earned $2.10 earnings per share. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, analysts forecast that Apple Inc. will post 6.05 earnings per share for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, February 10th. This is a boost from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.63%. Apple’s dividend payout ratio is 15.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Cowen lowered their target price on shares of Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price target on shares of Apple in a report on Friday, February 3rd. Needham & Company LLC reissued a “buy” rating and set a $170.00 target price on shares of Apple in a report on Friday, February 3rd. Evercore ISI reaffirmed an “outperform” rating and issued a $190.00 price objective on shares of Apple in a report on Monday, February 6th. Finally, National Bank Financial cut their price objective on shares of Apple to $54.00 and set an “outperform” rating for the company in a report on Friday, January 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $166.03.

About Apple

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.