Newbridge Financial Services Group Inc. Has $16.28 Million Position in Apple Inc. $AAPL

Newbridge Financial Services Group Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% in the second quarter, HoldingsChannel.com reports. The firm owned 79,336 shares of the iPhone maker’s stock after selling 2,230 shares during the period. Apple comprises 2.6% of Newbridge Financial Services Group Inc.’s investment portfolio, making the stock its 5th largest position. Newbridge Financial Services Group Inc.’s holdings in Apple were worth $16,277,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ryan Investment Management Inc. purchased a new position in shares of Apple during the second quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC boosted its holdings in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. Nexus Investment Management ULC increased its position in Apple by 333.3% during the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after purchasing an additional 200 shares during the period. LSV Asset Management bought a new position in Apple in the 4th quarter worth $65,000. Finally, Elite Financial Inc. purchased a new stake in shares of Apple in the 1st quarter worth about $58,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 228,052 shares of company stock valued at $58,604,588. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AAPL. Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. CLSA upped their target price on Apple from $265.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, December 5th. Phillip Securities cut Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price for the company. in a research note on Thursday, September 11th. JPMorgan Chase & Co. upped their price target on Apple from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Wells Fargo & Company set a $300.00 price objective on Apple and gave the company an “overweight” rating in a research report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $282.51.

Apple Trading Up 0.1%

Apple stock opened at $278.28 on Monday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $288.62. The company has a market capitalization of $4.11 trillion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 2.60 and a beta of 1.10. The business’s fifty day simple moving average is $268.24 and its two-hundred day simple moving average is $237.28. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $1.64 earnings per share. As a group, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s dividend payout ratio is currently 13.92%.

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.