Apple Inc. $AAPL Stock Position Lowered by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,336 shares of the iPhone maker’s stock after selling 2,230 shares during the period. Apple makes up 2.6% of Newbridge Financial Services Group Inc.’s investment portfolio, making the stock its 5th biggest holding. Newbridge Financial Services Group Inc.’s holdings in Apple were worth $16,277,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Kingstone Capital Partners Texas LLC lifted its holdings in 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 worth $39,065,374,000 after purchasing an additional 205,656,808 shares in the last quarter. Norges Bank bought a new stake in shares of Apple during the second quarter valued at about $38,942,255,000. Nuveen LLC bought a new stake in shares of Apple during the first quarter valued at about $17,472,482,000. PKS Advisory Services LLC lifted its holdings in shares of Apple by 98,917.0% in the second quarter. PKS Advisory Services LLC now owns 57,956,620 shares of the iPhone maker’s stock worth $12,106,000 after buying an additional 57,898,088 shares in the last quarter. Finally, Laurel Wealth Advisors LLC boosted its position in shares of Apple by 20,464.8% in the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock valued at $5,553,753,000 after acquiring an additional 26,937,401 shares during the period. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AAPL shares. CLSA upped their target price on shares of Apple from $265.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, December 5th. Loop Capital reaffirmed a “buy” rating and issued a $325.00 price target (up previously from $315.00) on shares of Apple in a report on Tuesday, December 2nd. Monness Crespi & Hardt increased their price objective on Apple from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. DA Davidson boosted their target price on Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Finally, Barclays upped their target price on Apple from $180.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $282.51.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 228,052 shares of company stock valued at $58,604,588. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

AAPL opened at $278.28 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $4.11 trillion, a P/E ratio of 37.25, a PEG ratio of 2.60 and a beta of 1.10. The stock has a 50-day moving average price of $268.24 and a 200-day moving average price of $237.28. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $288.62.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The company had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.Apple’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. Equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s payout ratio is currently 13.92%.

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.