Brueske Advisory Services LLC Lowers Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Brueske Advisory Services LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 7.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,752 shares of the iPhone maker’s stock after selling 673 shares during the quarter. Apple makes up 1.8% of Brueske Advisory Services LLC’s holdings, making the stock its 12th largest position. Brueske Advisory Services LLC’s holdings in Apple were worth $1,944,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Advanced Portfolio Management LLC boosted its holdings in shares of Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock worth $3,260,000 after buying an additional 47 shares during the period. Family Capital Management Inc. boosted its holdings in shares of Apple by 0.3% during the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock worth $4,235,000 after buying an additional 48 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of Apple by 0.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock worth $4,178,000 after buying an additional 48 shares during the period. Scarborough Advisors LLC boosted its holdings in shares of Apple by 0.3% during the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock worth $3,992,000 after buying an additional 51 shares during the period. Finally, Disciplined Investments LLC boosted its holdings in shares of Apple by 0.7% during the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker’s stock worth $1,794,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider directly owned 15,533 shares of the company’s stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by insiders.

Apple Price Performance

AAPL stock opened at $202.38 on Friday. The company has a 50 day simple moving average of $205.37 and a 200 day simple moving average of $213.60. The stock has a market cap of $3.02 trillion, a price-to-earnings ratio of 30.71, a P/E/G ratio of 2.22 and a beta of 1.17. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 172.48%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.40 EPS. Research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its board has authorized a share buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple’s payout ratio is presently 15.78%.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. TD Cowen dropped their price objective on shares of Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. KeyCorp upgraded shares of Apple from an “underweight” rating to a “sector weight” rating in a research note on Monday, April 14th. Raymond James Financial reiterated an “outperform” rating and issued a $240.00 price objective (up previously from $230.00) on shares of Apple in a research note on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Finally, Loop Capital dropped their price objective on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $237.25.

About Apple

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.