77,609 Shares in Apple Inc. (NASDAQ:AAPL) Bought by Stonebrook Private Inc.

Stonebrook Private Inc. bought a new position in Apple Inc. (NASDAQ:AAPLFree Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 77,609 shares of the iPhone maker’s stock, valued at approximately $14,942,000. Apple makes up 5.0% of Stonebrook Private Inc.’s investment portfolio, making the stock its largest holding.

Other large investors also recently modified their holdings of the company. Headinvest LLC lifted its holdings in shares of Apple by 1.7% in the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after purchasing an additional 872 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Apple by 16.1% in the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock worth $14,461,000 after purchasing an additional 10,425 shares in the last quarter. DNB Asset Management AS lifted its holdings in shares of Apple by 6.9% in the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after purchasing an additional 279,311 shares in the last quarter. Boltwood Capital Management lifted its stake in Apple by 2.8% during the 4th quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker’s stock valued at $7,158,000 after acquiring an additional 1,021 shares in the last quarter. Finally, NewEdge Wealth LLC lifted its stake in Apple by 16.2% during the 4th quarter. NewEdge Wealth LLC now owns 808,709 shares of the iPhone maker’s stock valued at $155,701,000 after acquiring an additional 112,980 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Up 0.5 %

Shares of NASDAQ AAPL opened at $191.29 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $2.93 trillion, a price-to-earnings ratio of 29.75, a PEG ratio of 2.32 and a beta of 1.26. The business has a 50-day moving average of $177.13 and a 200-day moving average of $183.23.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. Apple’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 earnings per share. Sell-side analysts expect that Apple Inc. will post 6.57 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.52%. This is a positive change from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is currently 15.55%.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior vice president now owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of the business’s 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 owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Insiders sold a total of 271,270 shares of company stock valued at $46,511,696 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Canaccord Genuity Group raised their price objective on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Monness Crespi & Hardt raised their price objective on Apple from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Apple in a research note on Friday, May 3rd. Loop Capital dropped their price objective on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $200.00 target price on shares of Apple in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $205.59.

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Apple Company Profile

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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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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