Apple Inc. (NASDAQ:AAPL) Stock Position Cut by Brighton Jones LLC

Brighton Jones LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 468,107 shares of the iPhone maker’s stock after selling 54,662 shares during the period. Apple makes up approximately 4.1% of Brighton Jones LLC’s holdings, making the stock its 3rd largest position. Brighton Jones LLC’s holdings in Apple were worth $109,068,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AAPL. International Assets Investment Management LLC increased its position in Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after buying an additional 93,886,664 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 in the last quarter. Ameriprise Financial Inc. grew 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 valued at $10,909,457,000 after buying an additional 3,245,281 shares in the last quarter. American Century Companies Inc. raised its position 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 buying an additional 1,065,759 shares during the last quarter. Finally, Swedbank AB lifted its holdings in shares of Apple by 13.4% in the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after buying an additional 2,359,409 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AAPL shares. Maxim Group lifted their price target on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Evercore ISI reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Wells Fargo & Company increased their target price on Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.78.

Apple Stock Performance

Shares of Apple stock opened at $254.49 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock’s fifty day moving average price is $234.97 and its 200-day moving average price is $225.70. The firm has a market cap of $3.85 trillion, a P/E ratio of 41.86, a P/E/G ratio of 2.41 and a beta of 1.23. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $255.00.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS 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 business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the firm posted $1.46 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. Apple’s dividend payout ratio is currently 16.45%.

Apple Company 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.