Broderick Brian C Trims Holdings in Apple Inc. $AAPL

Broderick Brian C decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,243 shares of the iPhone maker’s stock after selling 3,124 shares during the quarter. Apple comprises approximately 4.7% of Broderick Brian C’s investment portfolio, making the stock its 4th biggest holding. Broderick Brian C’s holdings in Apple were worth $23,644,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Apple by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after acquiring an additional 5,005,297 shares in the last quarter. Kingstone Capital Partners Texas LLC raised its stake in Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after buying an additional 205,656,808 shares during the period. Northern Trust Corp raised its stake in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after purchasing an additional 13,137,968 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Apple by 1.0% during the first quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker’s stock worth $21,790,933,000 after acquiring an additional 984,157 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 259,121 shares of company stock worth $65,358,981 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AAPL. Evercore ISI raised their price target on Apple from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays upped their target price on Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a report on Friday. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a research report on Thursday, September 4th. Tigress Financial increased their price objective on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 17th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $276.39.

Apple Stock Performance

Shares of AAPL stock opened at $270.37 on Friday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $277.32. The stock has a market capitalization of $4.01 trillion, a P/E ratio of 41.03, a PEG ratio of 2.62 and a beta of 1.09. 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 firm’s 50 day moving average is $248.34 and its 200 day moving average is $222.01.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.64 earnings per share. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is 15.78%.

Apple Profile

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.