Apple Inc. (NASDAQ:AAPL) is Stonebrook Private Inc.’s 3rd Largest Position

Stonebrook Private Inc. increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,190 shares of the iPhone maker’s stock after buying an additional 578 shares during the quarter. Apple comprises approximately 5.0% of Stonebrook Private Inc.’s portfolio, making the stock its 3rd largest position. Stonebrook Private Inc.’s holdings in Apple were worth $17,522,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. lifted its stake in Apple by 11.1% during the 2nd quarter. SRS Capital Advisors Inc. now owns 68,921 shares of the iPhone maker’s stock worth $14,516,000 after acquiring an additional 6,875 shares in the last quarter. Oxbow Advisors LLC raised its holdings in shares of Apple by 0.3% in the 2nd quarter. Oxbow Advisors LLC now owns 118,929 shares of the iPhone maker’s stock valued at $25,049,000 after purchasing an additional 356 shares in the last quarter. Motiv8 Investments LLC raised its stake in Apple by 18.8% in the second quarter. Motiv8 Investments LLC now owns 7,579 shares of the iPhone maker’s stock valued at $1,597,000 after buying an additional 1,198 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. boosted its holdings in Apple by 1.3% in the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 91,668 shares of the iPhone maker’s stock valued at $19,307,000 after purchasing an additional 1,169 shares in the last quarter. Finally, Chicago Capital LLC lifted its position in shares of Apple by 4.9% during the 2nd quarter. Chicago Capital LLC now owns 545,774 shares of the iPhone maker’s stock worth $114,951,000 after buying an additional 25,585 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research analyst reports. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and lifted their target price for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. The Goldman Sachs Group upped their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Citigroup raised their target price on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday. KeyCorp reissued a “hold” rating and set a $247.61 price target on shares of Apple in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $237.27.

Insider Activity

In other news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction dated 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 owns 489,944 shares in the company, valued at approximately $111,148,695.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 2.2 %

NASDAQ:AAPL opened at $230.76 on Thursday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The business’s 50-day moving average is $226.64 and its two-hundred day moving average is $209.48. 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 has a market capitalization of $3.54 trillion, a PE ratio of 35.89, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings results 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 business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $1.26 EPS. Research analysts predict that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th 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 was Monday, August 12th. Apple’s payout ratio is 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.