Apple Inc. $AAPL Stock Position Decreased by Brio Consultants LLC

Brio Consultants LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 8.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,993 shares of the iPhone maker’s stock after selling 3,289 shares during the quarter. Apple comprises 1.0% of Brio Consultants LLC’s investment portfolio, making the stock its 22nd largest holding. Brio Consultants LLC’s holdings in Apple were worth $7,180,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. acquired a new stake in shares of Apple in the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC raised its holdings in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares in the last quarter. Nexus Investment Management ULC raised its holdings in Apple by 333.3% during the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after buying an additional 200 shares in the last quarter. Elite Financial Inc. acquired a new stake in shares of Apple in the first quarter worth about $58,000. Finally, LSV Asset Management bought a new stake in shares of Apple during the 4th quarter worth about $65,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This represents a 23.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AAPL. Jefferies Financial Group raised Apple from an “underperform” rating to a “hold” rating and raised their price objective for the company from $203.07 to $246.99 in a research note on Friday, October 31st. Wall Street Zen downgraded Apple from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Apple in a research note on Monday. Bank of America raised their target price on shares of Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, TD Cowen lifted their target price on shares of Apple from $275.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.53.

Apple Price Performance

NASDAQ:AAPL opened at $280.70 on Friday. The stock has a market cap of $4.15 trillion, a P/E ratio of 37.58, a PEG ratio of 2.65 and a beta of 1.10. Apple Inc. has a one year low of $169.21 and a one year high of $288.62. The company has a fifty day moving average price of $265.56 and a 200 day moving average price of $233.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.89 and a quick ratio of 0.86.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The company had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. During the same period last year, the business posted $1.64 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s payout ratio is currently 13.92%.

Apple Company 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.