Brooklyn FI LLC Buys 90,975 Shares of Apple Inc. (NASDAQ:AAPL)

Brooklyn FI LLC grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 6,097.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,467 shares of the iPhone maker's stock after acquiring an additional 90,975 shares during the quarter. Brooklyn FI LLC's holdings in Apple were worth $21,760,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Drystone LLC bought a new stake in Apple during the 4th quarter worth approximately $25,000. Life Planning Partners Inc bought a new stake in Apple during the 4th quarter worth approximately $47,000. SPX Gestao de Recursos Ltda bought a new stake in Apple during the 3rd quarter worth approximately $71,000. Teachers Insurance & Annuity Association of America bought a new stake in Apple during the 3rd quarter worth approximately $77,000. Finally, Pillar Financial Advisors LLC bought a new stake in Apple during the 4th quarter worth approximately $82,000. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AAPL. Raymond James lowered their price objective on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. UBS Group reiterated a "buy" rating on shares of Apple in a report on Sunday. Bank of America lowered their price objective on shares of Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. TD Cowen lowered their price objective on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Rosenblatt Securities cut shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price for the company. in a research note on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $235.80.

Apple Price Performance

AAPL stock traded down $0.94 during midday trading on Friday, reaching $199.01. The company had a trading volume of 70,744,759 shares, compared to its average volume of 56,229,633. The company has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The stock has a 50 day moving average price of $203.10 and a 200-day moving average price of $225.00. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. Apple's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 earnings per share. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is 16.20%.

Apple announced that its board has authorized a stock buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider now owns 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock valued at $42,694,080 over the last quarter. 0.06% of the stock is owned by corporate insiders.

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.