Broyhill Asset Management LLC Has $1.41 Million Stock Position in Apple Inc. $AAPL

Broyhill Asset Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,325 shares of the iPhone maker’s stock after selling 148 shares during the period. Apple comprises 1.1% of Broyhill Asset Management LLC’s holdings, making the stock its 26th largest position. Broyhill Asset Management LLC’s holdings in Apple were worth $1,405,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Life Planning Partners Inc acquired a new position in Apple in the fourth quarter valued at about $47,000. Elite Financial Inc. bought a new position in Apple during the 1st quarter worth about $58,000. Conquis Financial LLC bought a new position in Apple during the 4th quarter worth about $63,000. LSV Asset Management bought a new position in Apple during the 4th quarter worth about $65,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple during the 4th quarter worth about $82,000. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AAPL. Raymond James Financial reiterated an “outperform” rating and set a $240.00 target price (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Loop Capital decreased their price objective on Apple from $230.00 to $226.00 and set a “hold” rating for the company in a report on Thursday, August 21st. Melius Research set a $290.00 price objective on Apple and gave the company a “buy” rating in a report on Wednesday. Evercore ISI upped their target price on Apple from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and set a $270.00 target price on shares of Apple in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $240.80.

Apple Trading Up 1.4%

Shares of AAPL stock opened at $230.03 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.41 trillion, a P/E ratio of 34.91, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The stock has a 50 day simple moving average of $221.08 and a 200 day simple moving average of $212.48. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 170.91% and a net margin of 24.30%.The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 earnings per share. On average, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

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.