Fulton Breakefield Broenniman LLC Has $70.43 Million Position in Apple Inc. $AAPL

Fulton Breakefield Broenniman LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 343,293 shares of the iPhone maker’s stock after acquiring an additional 10,870 shares during the period. Apple makes up approximately 4.8% of Fulton Breakefield Broenniman LLC’s portfolio, making the stock its 3rd largest position. Fulton Breakefield Broenniman LLC’s holdings in Apple were worth $70,433,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ryan Investment Management Inc. bought a new position in shares of Apple during the 2nd quarter valued at about $31,000. ROSS JOHNSON & Associates LLC boosted its holdings in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. Elite Financial Inc. bought a new position in shares of Apple during the 1st quarter valued at about $58,000. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter valued at about $65,000. Finally, HFM Investment Advisors LLC purchased a new stake in shares of Apple during the 1st quarter valued at about $99,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AAPL shares. DA Davidson boosted their price objective on Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday. Sanford C. Bernstein reissued an “outperform” rating and set a $290.00 price objective on shares of Apple in a research note on Wednesday. CLSA raised Apple to a “strong-buy” rating in a research note on Sunday, October 5th. Raymond James Financial reissued an “outperform” rating and set a $240.00 price objective (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Finally, BMO Capital Markets reissued a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $276.39.

Apple Stock Performance

Apple stock opened at $270.37 on Monday. The firm has a market capitalization of $4.01 trillion, a P/E ratio of 41.03, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. The company’s 50-day moving average is $248.34 and its 200 day moving average is $222.34. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

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, beating analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 earnings per share. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be issued a $0.26 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is presently 13.92%.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of the business’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 in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 259,121 shares of company stock worth $65,358,981 over the last three months. Company insiders own 0.06% of the company’s stock.

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.