Brown Lisle Cummings Inc. Sells 75 Shares of Apple Inc. $AAPL

Brown Lisle Cummings Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,826 shares of the iPhone maker’s stock after selling 75 shares during the quarter. Apple makes up about 2.8% of Brown Lisle Cummings Inc.’s portfolio, making the stock its 5th biggest holding. Brown Lisle Cummings Inc.’s holdings in Apple were worth $10,428,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Kingstone Capital Partners Texas LLC boosted its position in shares of Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after acquiring an additional 205,656,808 shares during the last quarter. Nuveen LLC acquired a new position in shares of Apple during the 1st quarter valued at about $17,472,482,000. GAMMA Investing LLC boosted its position in shares of Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock valued at $133,425,490,000 after acquiring an additional 59,835,676 shares during the last quarter. Northern Trust Corp boosted its position in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. Finally, Amundi boosted its position in shares of Apple by 27.4% during the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock valued at $13,870,795,000 after acquiring an additional 14,651,321 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Down 3.5%

Shares of NASDAQ:AAPL opened at $245.27 on Monday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.64 trillion, a PE ratio of 37.22, a price-to-earnings-growth ratio of 2.39 and a beta of 1.09. The firm’s 50-day moving average is $237.61 and its two-hundred day moving average is $215.83. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. Analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s dividend payout ratio is presently 15.78%.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,922 shares of company stock worth $64,320,190. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on AAPL shares. JPMorgan Chase & Co. upped their target price on shares of Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a research report on Thursday, September 4th. Tigress Financial upped their target price on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 17th. Seaport Res Ptn raised shares of Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, Loop Capital decreased their target price on shares of Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research report on Thursday, August 21st. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.29.

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.