Brookstone Capital Management Decreases Stock Position in Apple Inc. $AAPL

Brookstone Capital Management reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 555,226 shares of the iPhone maker’s stock after selling 9,240 shares during the quarter. Apple comprises about 1.6% of Brookstone Capital Management’s portfolio, making the stock its 6th biggest position. Brookstone Capital Management’s holdings in Apple were worth $140,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of AAPL. Overbrook Management Corp increased its position in Apple by 57.4% during the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock worth $28,449,000 after buying an additional 38,174 shares during the period. Torren Management LLC acquired a new stake in Apple in the 4th quarter worth about $1,178,000. Adventist Health System Sunbelt Healthcare Corp acquired a new stake in Apple in the 4th quarter worth about $105,482,000. KBC Group NV boosted its holdings in Apple by 3.1% in the 4th quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker’s stock valued at $1,915,172,000 after purchasing an additional 214,215 shares during the period. Finally, Professional Advisory Services Inc. grew its position in shares of Apple by 29.6% during the 4th quarter. Professional Advisory Services Inc. now owns 94,277 shares of the iPhone maker’s stock worth $25,630,000 after purchasing an additional 21,508 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $284.29 on Friday. The company has a fifty day moving average of $292.51 and a 200-day moving average of $273.20. The firm has a market capitalization of $4.18 trillion, a P/E ratio of 34.38, a P/E/G ratio of 2.39 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a twelve month low of $199.26 and a twelve month high of $317.40.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. Apple’s revenue was up 16.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple’s payout ratio is 13.06%.

Insider Transactions at Apple

In related news, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 97,875 shares of company stock worth $24,998,541. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citigroup restated a “buy” rating on shares of Apple in a research report on Monday, June 1st. TD Cowen raised their target price on shares of Apple from $335.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Robert W. Baird set a $310.00 target price on shares of Apple in a research report on Friday, May 1st. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research report on Monday, March 2nd. Finally, KGI Securities cut shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price for the company. in a report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.85.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts and traders see the recent decline as overdone, arguing that Apple’s pullback has created an attractive entry point and that the stock is oversold at support. Stock Of The Day: Is The Apple Sell-Off Over?
• Positive Sentiment: Morgan Stanley reiterated a Buy rating on AAPL, saying Apple’s pricing and margin-defense strategy supports upside and leaving its $360 target unchanged. Apple Buy Rating Reiterated as Margin Defense Strategy Supports Upside; $360 Price Target Unchanged
• Neutral Sentiment: Wall Street remains divided on the broader implications of Apple’s recent price hikes, with some analysts saying the company can pass through costs thanks to its loyal customer base, while others warn the iPhone will be the real test. Apple Can Get Away With Mac Price Hikes, but iPhone Is the Real Test
• Negative Sentiment: Apple raised prices on several Mac and iPad models because surging memory and storage chip costs tied to AI demand are squeezing margins, raising concerns that higher prices could hurt demand and signal more pressure ahead. Apple raises prices of MacBooks, iPads as memory costs skyrocket
• Negative Sentiment: Apple also lost a key Vision Pro hardware executive to OpenAI, adding to investor concern about execution in its spatial-computing and AI efforts. Apple (AAPL) Loses Key Vision Pro Hardware Chief to OpenAI in Major Talent Blow

Apple Company Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.