Brave Asset Management Inc. Has $21.52 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Brave Asset Management Inc. reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 0.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 92,351 shares of the iPhone maker’s stock after selling 331 shares during the quarter. Apple makes up 5.2% of Brave Asset Management Inc.’s portfolio, making the stock its 5th biggest position. Brave Asset Management Inc.’s holdings in Apple were worth $21,518,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Apple by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after buying an additional 2,785,807 shares during the period. Ameriprise Financial Inc. raised its holdings in Apple by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after buying an additional 3,245,281 shares during the period. Capital International Investors boosted its holdings in shares of Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares during the period. American Century Companies Inc. raised its holdings in shares of Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after acquiring an additional 1,065,759 shares during the period. Finally, Swedbank AB boosted its stake in Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after purchasing an additional 2,359,409 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Up 1.0 %

Shares of NASDAQ:AAPL opened at $239.59 on Tuesday. The company has a 50 day moving average price of $229.02 and a two-hundred day moving average price of $220.02. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.62 trillion, a PE ratio of 39.41, a PEG ratio of 2.33 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $240.79.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $94.52 billion. During the same quarter in the previous year, the firm posted $1.46 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. Analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent analyst reports. Loop Capital decreased their target price on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. 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. New Street Research reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Finally, StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $235.68.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 408,170 shares of company stock worth $92,007,745. Corporate insiders own 0.06% of the company’s stock.

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.