Brooktree Capital Management Reduces Position in Apple Inc. (NASDAQ:AAPL)

Brooktree Capital Management decreased its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 19.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,160 shares of the iPhone maker’s stock after selling 15,590 shares during the quarter. Apple makes up approximately 7.3% of Brooktree Capital Management’s portfolio, making the stock its 3rd largest holding. Brooktree Capital Management’s holdings in Apple were worth $11,203,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Apple in the fourth quarter worth $25,228,507,000. State Street Corp grew its stake in shares of Apple by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after acquiring an additional 10,951,705 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Apple by 38.1% in the fourth quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock worth $5,247,094,000 after acquiring an additional 8,154,171 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Apple by 114.9% in the first quarter. SG Americas Securities LLC now owns 959,506 shares of the iPhone maker’s stock worth $167,539,000 after acquiring an additional 7,386,473 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Apple by 41.8% in the fourth quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock worth $3,705,275,000 after acquiring an additional 6,154,422 shares during the last quarter. Institutional investors own 57.72% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $155.81 on Monday. The stock has a market capitalization of $2.50 trillion, a P/E ratio of 25.71, a P/E/G ratio of 2.09 and a beta of 1.23. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The business has a 50-day moving average price of $156.11 and a two-hundred day moving average price of $157.00.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 EPS. Equities analysts predict that Apple Inc. will post 6.1 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.59%. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Insider Activity

In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. set a $175.00 price objective on shares of Apple in a research note on Friday, July 29th. Rosenblatt Securities decreased their price target on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, July 29th. Evercore ISI lifted their price target on shares of Apple from $180.00 to $185.00 in a research note on Friday, July 29th. KeyCorp lifted their price target on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, August 19th. Finally, The Goldman Sachs Group set a $139.00 price target on shares of Apple in a research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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