Apple Inc. (NASDAQ:AAPL) Shares Acquired by Brookstone Capital Management

Brookstone Capital Management increased its holdings in Apple Inc. (NASDAQ:AAPL) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 583,413 shares of the iPhone maker’s stock after buying an additional 14,969 shares during the period. Apple comprises about 2.0% of Brookstone Capital Management’s holdings, making the stock its 6th largest position. Brookstone Capital Management’s holdings in Apple were worth $135,935,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AAPL. Hershey Financial Advisers LLC purchased a new stake in shares of Apple in the second quarter valued at $42,000. Hoese & Co LLP increased its position in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares in the last quarter. Sage Financial Group Inc. acquired a new position in Apple in the 2nd quarter valued at about $206,000. Benchmark Wealth Management LLC purchased a new position in Apple in the 2nd quarter valued at about $208,000. Finally, SMH Capital Advisors Inc. acquired a new stake in shares of Apple during the 2nd quarter worth about $209,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of Apple stock opened at $232.87 on Tuesday. 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 Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The firm’s 50-day simple moving average is $228.06 and its 200-day simple moving average is $218.64. The firm has a market cap of $3.52 trillion, a PE ratio of 38.30, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Equities analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed 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 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AAPL shares. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Apple in a research report on Friday, November 1st. Rosenblatt Securities boosted their price target on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Bank of America restated a “buy” rating and set a $256.00 price objective on shares of Apple in a report on Thursday, October 3rd. Oppenheimer reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Finally, Loop Capital decreased their price target on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $235.25.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock valued at $92,007,745 over the last 90 days. 0.06% of the stock is owned by company insiders.

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.