McBroom & Associates LLC Has $8.54 Million Position in Apple Inc. (NASDAQ:AAPL)

McBroom & Associates LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% in the third quarter, Holdings Channel.com reports. The fund owned 36,637 shares of the iPhone maker’s stock after buying an additional 396 shares during the quarter. Apple comprises about 5.2% of McBroom & Associates LLC’s portfolio, making the stock its 6th largest holding. McBroom & Associates LLC’s holdings in Apple were worth $8,536,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. China Universal Asset Management Co. Ltd. raised its position in Apple by 127.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after purchasing an additional 42,282 shares in the last quarter. Arjuna Capital raised its position in Apple by 2.5% during the 1st quarter. Arjuna Capital now owns 137,393 shares of the iPhone maker’s stock valued at $23,560,000 after purchasing an additional 3,321 shares in the last quarter. Lake Street Advisors Group LLC raised its position in Apple by 54.6% during the 1st quarter. Lake Street Advisors Group LLC now owns 209,343 shares of the iPhone maker’s stock valued at $35,898,000 after purchasing an additional 73,909 shares in the last quarter. Vaughan David Investments LLC IL raised its position in Apple by 7.9% during the 1st quarter. Vaughan David Investments LLC IL now owns 37,490 shares of the iPhone maker’s stock valued at $6,429,000 after purchasing an additional 2,746 shares in the last quarter. Finally, Oxford Financial Group LTD. LLC raised its position in Apple by 0.5% during the 1st quarter. Oxford Financial Group LTD. LLC now owns 134,403 shares of the iPhone maker’s stock valued at $23,047,000 after purchasing an additional 696 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and lifted their target price for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Tuesday. Melius Research reiterated a “buy” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Friday, October 25th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 price target on shares of Apple in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $236.78.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

Shares of AAPL stock opened at $248.13 on Friday. The stock has a market cap of $3.75 trillion, a PE ratio of 40.81, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The business has a 50-day simple moving average of $232.50 and a 200-day simple moving average of $223.41. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $250.80.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 EPS. On average, equities analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

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

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.