Brown Lisle Cummings Inc. Has $10.82 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Brown Lisle Cummings Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 0.2% during the second quarter, HoldingsChannel.com reports. The fund owned 51,384 shares of the iPhone maker’s stock after selling 126 shares during the period. Apple accounts for 3.5% of Brown Lisle Cummings Inc.’s portfolio, making the stock its 3rd largest holding. Brown Lisle Cummings Inc.’s holdings in Apple were worth $10,822,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Foresight Capital Management Advisors Inc. grew its stake in Apple by 0.3% in the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after acquiring an additional 55 shares during the period. Hoese & Co LLP lifted its holdings in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares in the last quarter. Stableford Capital II LLC grew its position in shares of Apple by 0.3% in the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after purchasing an additional 59 shares during the period. Whitcomb & Hess Inc. grew its position in shares of Apple by 1.7% in the 2nd quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock valued at $746,000 after purchasing an additional 59 shares during the period. Finally, Kwmg LLC increased its stake in Apple by 0.6% during the 1st quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock worth $1,825,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Up 0.0 %

AAPL opened at $222.77 on Friday. The stock’s fifty day simple moving average is $223.22 and its 200 day simple moving average is $198.23. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The stock has a market cap of $3.42 trillion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 earnings per share. As a group, research analysts expect that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $250.00 price target on shares of Apple in a report on Tuesday. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Thursday. Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Tuesday. Finally, Wedbush reiterated an “outperform” rating and set a $285.00 price objective on shares of Apple in a report on Monday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $238.62.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock worth $23,723,887 over the last three months. Insiders own 0.06% of the company’s stock.

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.