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Apple Inc. $AAPL Stock Position Boosted by Brookstone Capital Management

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Key Points

  • Brookstone Capital Management increased its stake in Apple Inc. by 2.4%, now owning 581,748 shares valued at approximately $129.2 million.
  • Apple recently declared a quarterly dividend of $0.26 per share, with an annualized dividend of $1.04 and a yield of 0.5%.
  • Analysts have given Apple a "Moderate Buy" rating with a consensus price target of $237.98, indicating positive growth expectations.
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Brookstone Capital Management boosted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 581,748 shares of the iPhone maker's stock after purchasing an additional 13,711 shares during the period. Apple comprises 1.9% of Brookstone Capital Management's portfolio, making the stock its 5th biggest holding. Brookstone Capital Management's holdings in Apple were worth $129,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Burkett Financial Services LLC increased its position in Apple by 0.6% in the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after buying an additional 93 shares in the last quarter. Avid Wealth Partners LLC lifted its position in shares of Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after acquiring an additional 930 shares in the last quarter. OneAscent Wealth Management LLC lifted its position in shares of Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after acquiring an additional 409 shares in the last quarter. TruWealth Advisors LLC lifted its position in shares of Apple by 2.8% in the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock valued at $42,045,000 after acquiring an additional 5,120 shares in the last quarter. Finally, Allstate Corp lifted its position in shares of Apple by 3,368.2% in the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after acquiring an additional 438,471 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of NASDAQ AAPL traded up $2.86 during mid-day trading on Friday, hitting $227.76. 42,431,176 shares of the company's stock traded hands, compared to its average volume of 61,854,304. The company's 50-day moving average is $212.52 and its two-hundred day moving average is $212.96. 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 company has a market capitalization of $3.38 trillion, a P/E ratio of 34.56, a PEG ratio of 2.38 and a beta of 1.16. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its 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. The firm had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business's revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.40 EPS. On average, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its board has approved a share repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AAPL shares. DA Davidson restated a "buy" rating and issued a $250.00 price objective on shares of Apple in a research report on Friday, August 1st. Citigroup boosted their price objective on Apple from $240.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating in a research report on Friday, July 18th. Raymond James Financial restated an "outperform" rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $237.98.

Read Our Latest Stock Analysis on AAPL

Apple Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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