Apple Inc. (NASDAQ:AAPL) Stake Cut by BBR Partners LLC

BBR Partners LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 198,900 shares of the iPhone maker’s stock after selling 9,823 shares during the period. Apple makes up about 3.4% of BBR Partners LLC’s portfolio, making the stock its 4th biggest holding. BBR Partners LLC’s holdings in Apple were worth $41,892,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AAPL. Brown Financial Advisory increased its stake in Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after buying an additional 50 shares in the last quarter. Core Wealth Management Inc. boosted its stake in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares during the last quarter. Lowery Thomas LLC boosted its stake in shares of Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after acquiring an additional 50 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. increased its position in shares of Apple by 1.1% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares in the last quarter. Finally, Foresight Capital Management Advisors Inc. raised its stake in Apple by 0.3% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after purchasing an additional 55 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup reaffirmed a “buy” rating and set a $255.00 target price on shares of Apple in a report on Wednesday, October 2nd. Robert W. Baird upped their price objective on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. New Street Research reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. UBS Group restated a “hold” rating and set a $236.00 target price on shares of Apple in a report on Wednesday, October 16th. Finally, KeyCorp reaffirmed a “hold” rating and issued a $247.61 price target on shares of Apple in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.27.

Insider Activity

In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 517,924 shares of company stock worth $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $235.00 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The company has a market cap of $3.60 trillion, a P/E ratio of 36.55, a P/E/G ratio of 2.40 and a beta of 1.24. The stock has a 50-day moving average of $225.78 and a two-hundred day moving average of $208.38. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 earnings per share. As a group, analysts anticipate that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders 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 dividend yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

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.