Cornerstone Advisory LLC Has $19.96 Million Position in Apple Inc. (NASDAQ:AAPL)

Cornerstone Advisory LLC lowered its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 26.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 145,969 shares of the iPhone maker’s stock after selling 53,073 shares during the quarter. Apple makes up 4.6% of Cornerstone Advisory LLC’s portfolio, making the stock its 4th biggest position. Cornerstone Advisory LLC’s holdings in Apple were worth $19,957,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Apple by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after acquiring an additional 1,155,915 shares in the last quarter. Swiss National Bank raised its stake in shares of Apple by 13.1% during the 1st quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after acquiring an additional 8,230,300 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Apple by 10.1% during the 1st quarter. Wellington Management Group LLP now owns 67,133,546 shares of the iPhone maker’s stock worth $11,722,187,000 after acquiring an additional 6,162,898 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Apple by 2.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,435,007 shares of the iPhone maker’s stock worth $6,758,754,000 after acquiring an additional 1,003,177 shares in the last quarter. Institutional investors own 57.72% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AAPL. Monness Crespi & Hardt started coverage on shares of Apple in a research note on Thursday, September 8th. They set a “buy” rating and a $174.00 price objective for the company. Wedbush cut their price target on shares of Apple from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. The Goldman Sachs Group restated a “neutral” rating and set a $139.00 price target on shares of Apple in a research note on Thursday, September 8th. Citigroup restated a “buy” rating and set a $175.00 price target on shares of Apple in a research note on Tuesday, November 8th. Finally, Rosenblatt Securities restated a “buy” rating and set a $189.00 price target on shares of Apple in a research note on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $176.26.

Apple Stock Performance

AAPL opened at $151.29 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 24.76, a PEG ratio of 1.90 and a beta of 1.25. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The firm’s fifty day simple moving average is $147.08 and its two-hundred day simple moving average is $149.95.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.02. The business had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. Equities analysts anticipate that Apple Inc. will post 6.26 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s payout ratio is 15.06%.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 8,053 shares of the stock in a transaction on Monday, October 17th. The shares were sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the transaction, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $19,414,510.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Deirdre O’brien sold 8,053 shares of the stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $142.45, for a total value of $1,147,149.85. Following the completion of the sale, the senior vice president now directly owns 136,290 shares in the company, valued at $19,414,510.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Luca Maestri sold 176,299 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The disclosure for this sale can be found here. Insiders have sold a total of 360,651 shares of company stock valued at $53,703,645 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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