Apple Inc. $AAPL is Stonebridge Financial Group LLC’s 6th Largest Position

Stonebridge Financial Group LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,112 shares of the iPhone maker’s stock after selling 876 shares during the quarter. Apple makes up 2.7% of Stonebridge Financial Group LLC’s holdings, making the stock its 6th largest position. Stonebridge Financial Group LLC’s holdings in Apple were worth $28,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Avid Wealth Partners LLC increased its holdings in shares of Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after purchasing an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC increased its holdings in shares of Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after purchasing an additional 240 shares during the period. American National Bank & Trust increased its holdings in shares of Apple by 2.4% in the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after purchasing an additional 4,543 shares during the period. Andina Capital Management LLC increased its holdings in shares of Apple by 209.2% in the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after purchasing an additional 4,591 shares during the period. Finally, Plum Street Advisors LLC increased its holdings in shares of Apple by 4.0% in the first quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock valued at $1,752,000 after purchasing an additional 301 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AAPL. CLSA raised Apple to a “strong-buy” rating in a report on Sunday, October 5th. Jefferies Financial Group raised Apple from an “underperform” rating to a “hold” rating and raised their target price for the stock from $203.07 to $246.99 in a report on Friday, October 31st. Sanford C. Bernstein set a $325.00 target price on Apple in a report on Monday. Phillip Securities lowered Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price on the stock. in a report on Thursday, September 11th. Finally, Morgan Stanley raised their target price on Apple from $298.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $278.22.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was 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 directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This represents a 3.81% 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 valued at $65,358,981 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $270.04 on Wednesday. Apple Inc. has a one year low of $169.21 and a one year high of $277.32. The company has a market cap of $4.01 trillion, a price-to-earnings ratio of 40.98, a PEG ratio of 2.62 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The business’s 50 day moving average price is $249.99 and its 200 day moving average price is $223.37.

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

Apple Announces Dividend

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

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.