Brown Lisle Cummings Inc. Sells 126 Shares of Apple Inc. (NASDAQ:AAPL)

Brown Lisle Cummings Inc. decreased its stake in Apple Inc. (NASDAQ:AAPL) by 0.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,384 shares of the iPhone maker’s stock after selling 126 shares during the quarter. Apple accounts for about 3.5% of Brown Lisle Cummings Inc.’s investment portfolio, making the stock its 3rd largest holding. Brown Lisle Cummings Inc.’s holdings in Apple were worth $10,822,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AAPL. Yeomans Consulting Group Inc. purchased a new position in shares of Apple in the fourth quarter worth approximately $1,713,000. Raleigh Capital Management Inc. boosted its stake in Apple by 11.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after purchasing an additional 1,643 shares during the period. GLOBALT Investments LLC GA purchased a new position in Apple during the 4th quarter worth approximately $38,406,000. Barden Capital Management Inc. raised its stake in Apple by 132.8% during the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after purchasing an additional 18,615 shares during the period. Finally, Sunpointe LLC purchased a new stake in shares of Apple in the fourth quarter valued at $4,782,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Trading Up 0.0 %

Shares of NASDAQ:AAPL opened at $222.77 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The stock’s 50-day moving average is $223.22 and its 200-day moving average is $198.23. The company has a market cap of $3.42 trillion, a P/E ratio of 34.65, a P/E/G ratio of 2.60 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 EPS. Equities research analysts predict that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Tuesday. DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and upped their target price for the company from $200.00 to $230.00 in a report on Tuesday, June 11th. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price target on shares of Apple in a report on Tuesday. Tigress Financial upped their price objective on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. Finally, KeyCorp reissued a “hold” rating and set a $247.61 target price on shares of Apple in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $238.62.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock worth $23,723,887 in the last ninety days. 0.06% of the stock is currently owned by insiders.

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.