Cornerstone Wealth Management LLC Has $49.62 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Cornerstone Wealth Management LLC boosted its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 4.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 362,911 shares of the iPhone maker’s stock after buying an additional 16,141 shares during the period. Apple accounts for approximately 5.5% of Cornerstone Wealth Management LLC’s holdings, making the stock its biggest holding. Cornerstone Wealth Management LLC’s holdings in Apple were worth $49,617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Spence Asset Management bought a new position in shares of Apple during the second quarter valued at approximately $49,000. HBC Financial Services PLLC grew its holdings in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the last quarter. Emerson Wealth LLC grew its holdings in shares of Apple by 27.0% during the second quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 110 shares during the last quarter. Darrow Company Inc. bought a new position in shares of Apple during the second quarter valued at approximately $107,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Apple during the first quarter worth approximately $171,000. 57.72% of the stock is owned by institutional investors.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $151.07 on Friday. The company’s fifty day moving average is $146.62 and its two-hundred day moving average is $149.67. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The company has a market cap of $2.40 trillion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results 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. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. During the same period in the previous year, the business earned $1.24 EPS. The company’s revenue was up 7.8% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 6.26 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AAPL. Barclays reduced their price objective on Apple from $156.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, November 7th. UBS Group set a $180.00 price objective on Apple in a research report on Wednesday. DA Davidson reduced their price objective on Apple from $185.00 to $167.00 and set a “buy” rating for the company in a research report on Friday, October 28th. JPMorgan Chase & Co. set a $200.00 price objective on Apple in a research report on Monday. Finally, Wedbush reduced their price objective on Apple from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Two research analysts have rated the stock with a sell rating, seven have assigned 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, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.26.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the transaction, the insider now directly owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the transaction, the insider now directly owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Deirdre O’brien sold 176,299 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares in the company, valued at $19,374,986.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 380,851 shares of company stock valued at $56,707,789. 0.06% of the stock is owned by insiders.

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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

Featured Articles

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.