Newbridge Financial Services Group Inc. Has $12.48 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Newbridge Financial Services Group Inc. lessened its stake in 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 (SEC). The fund owned 59,271 shares of the iPhone maker’s stock after selling 2,947 shares during the quarter. Apple accounts for approximately 4.7% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 2nd biggest position. Newbridge Financial Services Group Inc.’s holdings in Apple were worth $12,484,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. SS&H Financial Advisors Inc. increased its stake in Apple by 1.3% during the 2nd quarter. SS&H Financial Advisors Inc. now owns 79,910 shares of the iPhone maker’s stock valued at $16,830,000 after purchasing an additional 997 shares in the last quarter. Cannon Financial Strategists Inc. purchased a new stake in shares of Apple during the second quarter valued at approximately $563,000. Brightwater Advisory LLC bought a new stake in shares of Apple during the second quarter valued at approximately $2,360,000. Heritage Wealth Management Inc. purchased a new position in Apple in the 2nd quarter worth approximately $18,707,000. Finally, Lazari Capital Management Inc. raised its holdings in Apple by 1.1% in the 2nd quarter. Lazari Capital Management Inc. now owns 150,459 shares of the iPhone maker’s stock worth $31,690,000 after acquiring an additional 1,695 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a report on Tuesday, September 10th. Raymond James lifted their price target on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Finally, Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and boosted their target price for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $235.51.

Apple Trading Down 1.4 %

Apple stock opened at $225.00 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock’s 50 day simple moving average is $227.04 and its two-hundred day simple moving average is $216.61. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The firm has a market cap of $3.40 trillion, a PE ratio of 37.01, a P/E/G ratio of 2.20 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the company earned $1.46 earnings per share. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Buying and Selling at Apple

In other news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 35.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 404,040 shares of company stock valued at $91,062,512 over the last quarter. 0.06% of the stock is currently owned by insiders.

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.