Brookstone Capital Management Has $68.19 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Brookstone Capital Management lifted its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 7.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 463,772 shares of the iPhone maker’s stock after acquiring an additional 31,189 shares during the period. Apple makes up about 1.5% of Brookstone Capital Management’s holdings, making the stock its 10th largest holding. Brookstone Capital Management’s holdings in Apple were worth $68,193,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AAPL. Stonehearth Capital Management LLC lifted its position in shares of Apple by 2.1% during the 2nd quarter. Stonehearth Capital Management LLC now owns 14,342 shares of the iPhone maker’s stock worth $2,109,000 after purchasing an additional 300 shares during the last quarter. CVA Family Office LLC lifted its position in shares of Apple by 0.9% during the 2nd quarter. CVA Family Office LLC now owns 43,634 shares of the iPhone maker’s stock worth $5,966,000 after purchasing an additional 402 shares during the last quarter. Triangle Securities Wealth Management lifted its position in shares of Apple by 2.8% during the 2nd quarter. Triangle Securities Wealth Management now owns 37,211 shares of the iPhone maker’s stock worth $5,088,000 after purchasing an additional 1,024 shares during the last quarter. Sound Income Strategies LLC raised its holdings in Apple by 13.9% in the 2nd quarter. Sound Income Strategies LLC now owns 46,480 shares of the iPhone maker’s stock valued at $6,355,000 after acquiring an additional 5,679 shares in the last quarter. Finally, Flaharty Asset Management LLC raised its holdings in Apple by 0.6% in the 2nd quarter. Flaharty Asset Management LLC now owns 18,403 shares of the iPhone maker’s stock valued at $2,516,000 after acquiring an additional 108 shares in the last quarter. Institutional investors own 57.72% of the company’s stock.

Insider Activity

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

Apple Stock Performance

AAPL opened at $153.72 on Thursday. The business’s 50-day moving average price is $160.23 and its two-hundred day moving average price is $155.88. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 2.00 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter last year, the business posted $1.30 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s payout ratio is 15.18%.

Wall Street Analyst Weigh In

Several research firms have commented on AAPL. Evercore ISI upped their price target on Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday. Citigroup upped their price target on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a report on Friday, July 29th. Monness Crespi & Hardt began coverage on Apple in a research note on Thursday, September 8th. They issued a “buy” rating and a $174.00 price objective on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $139.00 price objective on shares of Apple in a research note on Thursday, September 8th. Finally, Fundamental Research set a $177.07 price objective on Apple and gave the company a “buy” rating in a research note on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.68.

Apple Profile

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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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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