Broderick Brian C Sells 3,073 Shares of Apple Inc. (NASDAQ:AAPL)

Broderick Brian C lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,271 shares of the iPhone maker’s stock after selling 3,073 shares during the period. Apple accounts for 5.3% of Broderick Brian C’s portfolio, making the stock its 2nd largest holding. Broderick Brian C’s holdings in Apple were worth $27,324,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bull Oak Capital LLC grew its stake in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new position in Apple in the second quarter worth $42,000. Christopher J. Hasenberg Inc lifted its position in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the period. ARK Investment Management LLC bought a new position in Apple in the third quarter worth $110,000. Finally, Cordant Inc. lifted its position in Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

Apple stock opened at $223.83 on Thursday. 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 business has a 50-day moving average of $241.09 and a 200-day moving average of $230.82. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The firm has a market capitalization of $3.37 trillion, a P/E ratio of 36.81, a PEG ratio of 2.25 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued 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 business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s quarterly 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 EPS. On average, equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AAPL. Monness Crespi & Hardt raised their target price on Apple to $245.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James raised their target price on Apple to $250.00 and gave the stock a “buy” rating in a research report on Monday. Rosenblatt Securities lifted their price objective on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Morgan Stanley reissued an “overweight” rating and set a $273.00 price objective on shares of Apple in a report on Friday, December 13th. Finally, Sanford C. Bernstein lifted their price objective on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $237.99.

Insider Activity

In other Apple news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by 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.