MeadowBrook Investment Advisors LLC Sells 465 Shares of Apple Inc. (NASDAQ:AAPL)

MeadowBrook Investment Advisors LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,155 shares of the iPhone maker’s stock after selling 465 shares during the period. Apple comprises about 4.0% of MeadowBrook Investment Advisors LLC’s investment portfolio, making the stock its 2nd largest position. MeadowBrook Investment Advisors LLC’s holdings in Apple were worth $5,509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Disciplined Equity Management Inc. raised its position in shares of Apple by 879.6% during the 4th quarter. Disciplined Equity Management Inc. now owns 7,210 shares of the iPhone maker’s stock valued at $1,388,000 after acquiring an additional 6,474 shares in the last quarter. Lyell Wealth Management LP increased its stake in Apple by 7.7% during the fourth quarter. Lyell Wealth Management LP now owns 178,057 shares of the iPhone maker’s stock valued at $34,281,000 after purchasing an additional 12,804 shares during the last quarter. Channing Global Advisors LLC raised its holdings in shares of Apple by 1.1% during the fourth quarter. Channing Global Advisors LLC now owns 14,943 shares of the iPhone maker’s stock worth $2,877,000 after purchasing an additional 167 shares during the period. Stack Financial Management Inc bought a new position in shares of Apple in the 4th quarter worth about $212,000. Finally, Pittenger & Anderson Inc. boosted its holdings in shares of Apple by 0.3% in the 4th quarter. Pittenger & Anderson Inc. now owns 240,954 shares of the iPhone maker’s stock valued at $46,391,000 after buying an additional 761 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AAPL shares. Cfra increased their price objective on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Tigress Financial increased their price target on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $230.00 in a research report on Tuesday, June 11th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Apple in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.17.

Insider Activity at Apple

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

Apple Stock Performance

Shares of AAPL opened at $226.47 on Tuesday. 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 firm’s 50 day moving average is $222.25 and its 200-day moving average is $200.82. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The stock has a market capitalization of $3.47 trillion, a P/E ratio of 35.22, a P/E/G ratio of 2.62 and a beta of 1.24.

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

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is 15.55%.

Apple 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.