Brown Lisle Cummings Inc. Sells 2,440 Shares of Apple Inc. (NASDAQ:AAPL)

Brown Lisle Cummings Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 48,944 shares of the iPhone maker’s stock after selling 2,440 shares during the quarter. Apple accounts for approximately 3.5% of Brown Lisle Cummings Inc.’s investment portfolio, making the stock its 3rd biggest holding. Brown Lisle Cummings Inc.’s holdings in Apple were worth $11,404,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. High Net Worth Advisory Group LLC raised its holdings in shares of Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after purchasing an additional 1,066 shares during the period. Granite Investment Partners LLC boosted its holdings in Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after acquiring an additional 7,606 shares in the last quarter. Truist Financial Corp grew its stake in Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares during the period. EP Wealth Advisors LLC increased its holdings in shares of Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after acquiring an additional 95,235 shares in the last quarter. Finally, CHICAGO TRUST Co NA raised its position in shares of Apple by 15.2% during the third quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock worth $34,768,000 after purchasing an additional 19,670 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on AAPL shares. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Maxim Group upped their target price on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Barclays dropped their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Loop Capital decreased their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and raised their target price for the company from $205.00 to $212.92 in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.

Apple Trading Up 0.1 %

NASDAQ:AAPL opened at $248.13 on Friday. The stock’s fifty day moving average price is $232.50 and its two-hundred day moving average price is $223.64. The company has a market cap of $3.75 trillion, a P/E ratio of 40.81, a P/E/G ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $250.80.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the company posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. Apple’s dividend payout ratio is presently 16.45%.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 over the last 90 days. 0.06% of the stock is owned by insiders.

About Apple

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.