Brown Advisory Inc. Has $1.01 Billion Holdings in Apple Inc. $AAPL

Key Points

• Brown Advisory Inc. reduced its stake in Apple Inc. by 1.7%, now holding approximately 4.5 million shares worth over $1 billion, making Apple its 15th largest investment.
• Multiple institutional investors, including Vanguard Group Inc. and Norges Bank, increased their holdings in Apple during the fourth quarter, with Vanguard now owning over 1.39 billion shares.
• Analyst reports suggest a mix of ratings for Apple, with 18 analysts$237.98.

Brown Advisory Inc. decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,545,975 shares of the iPhone maker's stock after selling 78,241 shares during the period. Apple comprises 1.4% of Brown Advisory Inc.'s portfolio, making the stock its 15th largest holding. Brown Advisory Inc.'s holdings in Apple were worth $1,009,797,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Conquis Financial LLC acquired a new position in shares of Apple in the fourth quarter valued at approximately $63,000. LSV Asset Management acquired a new stake in shares of Apple during the fourth quarter worth $65,000. Elite Financial Inc. acquired a new stake in shares of Apple during the first quarter worth $58,000. Pillar Financial Advisors LLC acquired a new stake in shares of Apple in the 4th quarter worth about $82,000. Finally, Compass Planning Associates Inc acquired a new position in Apple during the 4th quarter valued at about $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Up 1.1%

Shares of Apple stock traded up $2.50 on Thursday, reaching $232.99. 20,569,050 shares of the company were exchanged, compared to its average volume of 56,837,367. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a market capitalization of $3.46 trillion, a price-to-earnings ratio of 35.37, a PEG ratio of 2.39 and a beta of 1.16. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a 50-day moving average of $214.45 and a 200 day moving average of $213.05.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter last year, the firm posted $1.40 EPS. The company's quarterly revenue was up 9.6% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its Board of Directors has approved a share buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's dividend payout ratio (DPR) is presently 15.78%.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AAPL shares. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Friday, July 25th. JPMorgan Chase & Co. raised their price objective on shares of Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. TD Cowen decreased their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. The Goldman Sachs Group restated a "buy" rating and issued a $266.00 target price on shares of Apple in a research note on Tuesday. Finally, Evercore ISI restated an "outperform" rating and issued a $250.00 target price on shares of Apple in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $237.37.

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.