Apple Inc. (NASDAQ:AAPL) Stake Lowered by Brendel Financial Advisors LLC

Brendel Financial Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,526 shares of the iPhone maker’s stock after selling 404 shares during the quarter. Apple makes up 1.7% of Brendel Financial Advisors LLC’s portfolio, making the stock its 23rd largest holding. Brendel Financial Advisors LLC’s holdings in Apple were worth $2,919,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in AAPL. Dimensional Fund Advisors LP grew its holdings in Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after buying an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after buying an additional 3,245,281 shares in the last quarter. Capital International Investors grew its holdings in Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares in the last quarter. American Century Companies Inc. grew its holdings in Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after buying an additional 1,065,759 shares in the last quarter. Finally, Swedbank AB grew its holdings in Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after buying an additional 2,359,409 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AAPL. New Street Research reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. The Goldman Sachs Group increased their price target on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wedbush reaffirmed an “outperform” rating and set a $285.00 price target on shares of Apple in a research note on Monday, September 9th. Finally, Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and increased their price target for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.25.

Apple Price Performance

Shares of AAPL opened at $234.93 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market cap of $3.55 trillion, a PE ratio of 38.64, a PEG ratio of 2.28 and a beta of 1.24. The firm’s 50 day moving average price is $228.71 and its 200 day moving average price is $219.12. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

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.