Apple Inc. (NASDAQ:AAPL) is Fulton Breakefield Broenniman LLC’s 2nd Largest Position

Fulton Breakefield Broenniman LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 2.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 333,367 shares of the iPhone maker’s stock after selling 9,096 shares during the period. Apple comprises 5.4% of Fulton Breakefield Broenniman LLC’s investment portfolio, making the stock its 2nd biggest position. Fulton Breakefield Broenniman LLC’s holdings in Apple were worth $77,675,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC purchased a new position in Apple in the second quarter valued at $42,000. Christopher J. Hasenberg Inc increased its holdings in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares in the last quarter. Hoese & Co LLP increased its holdings in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares in the last quarter. Sage Financial Group Inc. purchased a new position in Apple in the second quarter valued at $206,000. Finally, Benchmark Wealth Management LLC purchased a new position in Apple in the second quarter valued at $208,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $242.84 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $244.63. The firm’s 50 day moving average price is $230.53 and its 200-day moving average price is $221.62. The firm has a market cap of $3.67 trillion, a P/E ratio of 39.94, a P/E/G ratio of 2.38 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the firm earned $1.46 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Analysts Set New Price Targets

AAPL has been the subject of a number of research reports. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Bank of America boosted their target price on shares of Apple to $256.00 and gave the stock a “buy” rating in a research note on Wednesday. Evercore ISI reissued a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Friday, November 1st. Finally, Melius Research reissued a “buy” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $235.68.

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This represents a 10.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly 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 have sold a total of 408,170 shares of company stock valued at $92,007,745 in the last ninety days. Company insiders own 0.06% of the company’s stock.

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.