Brooks Moore & Associates Inc. Has $3.48 Million Position in Apple Inc. (NASDAQ:AAPL)

Brooks Moore & Associates Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,790 shares of the iPhone maker’s stock after selling 547 shares during the quarter. Apple comprises 2.5% of Brooks Moore & Associates Inc.’s portfolio, making the stock its 11th biggest position. Brooks Moore & Associates Inc.’s holdings in Apple were worth $3,481,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Robinson Value Management Ltd. bought a new position in shares of Apple in the third quarter valued at $28,000. Hanseatic Management Services Inc. increased its position in shares of Apple by 75.4% in the third quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after purchasing an additional 107 shares during the period. Cheyne Capital Management UK LLP increased its position in shares of Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after purchasing an additional 550 shares during the period. Align Wealth Management LLC bought a new position in shares of Apple in the fourth quarter worth $55,000. Finally, HBC Financial Services PLLC increased its position in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the period. 57.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AAPL shares. Piper Sandler decreased their target price on Apple from $195.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, May 5th. KeyCorp boosted their price target on Apple from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, May 5th. Cowen lowered their target price on Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Deutsche Bank Aktiengesellschaft upped their target price on Apple from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Finally, Raymond James decreased their price target on Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.74.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 187,730 shares of Apple stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $159.76, for a total transaction of $29,991,744.80. Following the completion of the sale, the chief operating officer now directly owns 489,816 shares in the company, valued at approximately $78,253,004.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Apple news, COO Jeffrey E. Williams sold 187,730 shares of Apple stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $159.76, for a total value of $29,991,744.80. Following the completion of the sale, the chief operating officer now directly owns 489,816 shares of the company’s stock, valued at approximately $78,253,004.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 200 shares of Apple stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $164.92, for a total transaction of $32,984.00. Following the completion of the transaction, the chief financial officer now owns 177,657 shares in the company, valued at approximately $29,299,192.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 439,529 shares of company stock worth $71,703,657. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 0.1 %

AAPL opened at $175.16 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.88 and a current ratio of 0.94. The business’s 50 day moving average price is $164.84 and its 200 day moving average price is $150.58. Apple Inc. has a one year low of $124.17 and a one year high of $176.39. The stock has a market capitalization of $2.76 trillion, a PE ratio of 29.74, a P/E/G ratio of 2.31 and a beta of 1.29.

Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. The business had revenue of $94.84 billion for the quarter, compared to analyst estimates of $92.84 billion. Apple had a return on equity of 165.72% and a net margin of 24.49%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 earnings per share. As a group, equities research analysts expect that Apple Inc. will post 5.99 EPS for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were paid a dividend of $0.24 per share. This is an increase from Apple’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, May 12th. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. Apple’s dividend payout ratio is 16.30%.

Apple declared that its board has approved a stock repurchase program on Thursday, May 4th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Apple Profile

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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.