Apple Inc. (NASDAQ:AAPL) Stock Holdings Reduced by Brick & Kyle Associates

Brick & Kyle Associates lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,474 shares of the iPhone maker’s stock after selling 764 shares during the quarter. Apple comprises about 5.5% of Brick & Kyle Associates’ holdings, making the stock its 2nd biggest holding. Brick & Kyle Associates’ holdings in Apple were worth $13,369,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Granite Investment Partners LLC increased its holdings in shares of Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the period. Bellwether Advisors LLC increased its stake in Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares during the period. Gentry Private Wealth LLC purchased a new stake in shares of Apple in the second quarter valued at about $876,000. Independent Advisor Alliance boosted its stake in shares of Apple by 0.9% during the second quarter. Independent Advisor Alliance now owns 920,737 shares of the iPhone maker’s stock worth $193,926,000 after buying an additional 8,028 shares during the period. Finally, WT Asset Management Ltd purchased a new position in shares of Apple during the second quarter worth about $80,057,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AAPL. Barclays lowered their target price on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. New Street Research reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. Citigroup boosted their price target on shares of Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Piper Sandler restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Two 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Apple Stock Up 1.4 %

AAPL opened at $228.22 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The business has a 50-day moving average of $226.84 and a two-hundred day moving average of $215.52. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 37.54, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24.

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

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Insider Buying and Selling at Apple

In related news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 35.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 404,040 shares of company stock valued at $91,062,512. Company insiders own 0.06% of the company’s stock.

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.