MeadowBrook Investment Advisors LLC Has $6.04 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

MeadowBrook Investment Advisors LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,925 shares of the iPhone maker’s stock after selling 230 shares during the period. Apple makes up about 5.4% of MeadowBrook Investment Advisors LLC’s portfolio, making the stock its biggest holding. MeadowBrook Investment Advisors LLC’s holdings in Apple were worth $6,041,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AAPL. Rosenblatt Securities increased their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Monness Crespi & Hardt increased their price target on Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday. Wedbush increased their price target on Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, December 26th. Finally, Citigroup increased their price target on Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $237.99.

Insider Buying and Selling

In other Apple 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated 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 transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was 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 company insiders.

Apple Stock Up 0.5 %

Apple stock opened at $223.83 on Thursday. 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 $3.37 trillion, a price-to-earnings ratio of 36.81, a PEG ratio of 2.25 and a beta of 1.20. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The business has a fifty day moving average price of $241.09 and a 200-day moving average price of $230.82.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company 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%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. Equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal 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 paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio (DPR) is 16.45%.

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.