John W. Brooker & Co. CPAs Decreases Stock Holdings in Apple Inc. $AAPL

Key Points

• John W. Brooker & Co. CPAs decreased its holdings in Apple Inc. by 94.3%, now owning only 1,020 shares after selling 16,944 shares in the 2nd quarter.
• Apple's stock has a market capitalization of $3.64 trillion and reported earnings of $1.57 per share for the last quarter, surpassing analyst expectations.
• CEO Timothy D. Cook sold 129,963 shares of Apple stock for approximately $33.4 million, reflecting a 3.81% decrease in his holdings.

John W. Brooker & Co. CPAs trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 94.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,020 shares of the iPhone maker's stock after selling 16,944 shares during the period. John W. Brooker & Co. CPAs' holdings in Apple were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Burkett Financial Services LLC increased its position in shares of Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock valued at $3,199,000 after purchasing an additional 93 shares during the last quarter. Avid Wealth Partners LLC increased its position in shares of Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after purchasing an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC increased its position in shares of Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock valued at $13,772,000 after purchasing an additional 240 shares during the last quarter. American National Bank & Trust increased its position in shares of Apple by 2.4% during the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker's stock valued at $40,107,000 after purchasing an additional 4,543 shares during the last quarter. Finally, Andina Capital Management LLC increased its position in shares of Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker's stock valued at $1,507,000 after purchasing an additional 4,591 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of AAPL stock opened at $245.27 on Monday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The stock has a market capitalization of $3.64 trillion, a price-to-earnings ratio of 37.22, a P/E/G ratio of 2.39 and a beta of 1.09. The stock has a fifty day simple moving average of $237.61 and a two-hundred day simple moving average of $215.83. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping 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 analysts' expectations of $88.64 billion. During the same period in the prior year, the business earned $1.40 EPS. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.

Wall Street Analyst Weigh In

AAPL has been the topic of several analyst reports. The Goldman Sachs Group reissued a "buy" rating and set a $266.00 target price on shares of Apple in a research report on Tuesday, August 26th. Morgan Stanley set a $298.00 price objective on Apple and gave the company an "overweight" rating in a report on Thursday, October 2nd. CLSA upgraded Apple to a "strong-buy" rating in a report on Sunday, October 5th. Bank of America boosted their price objective on Apple from $260.00 to $270.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Finally, Citigroup restated a "buy" rating on shares of Apple in a report on Wednesday, September 10th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $248.29.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 129,963 shares of the company's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the company's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares of the company's stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,922 shares of company stock worth $64,320,190. 0.06% of the stock is currently owned by company insiders.

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.

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