Apple Inc. (NASDAQ:AAPL) Position Boosted by Cherrydale Wealth Management LLC

Cherrydale Wealth Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 33,573 shares of the iPhone maker’s stock after buying an additional 630 shares during the period. Apple accounts for approximately 4.3% of Cherrydale Wealth Management LLC’s portfolio, making the stock its 8th largest holding. Cherrydale Wealth Management LLC’s holdings in Apple were worth $4,640,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AAPL. Legal & General Group Plc lifted its stake in shares of Apple by 8.2% during the second quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock valued at $16,889,649,000 after buying an additional 9,411,018 shares during the period. Vanguard Group Inc. raised its stake in Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares during the period. UBS Asset Management Americas Inc. raised its stake in Apple by 12.1% during the second quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock worth $11,001,469,000 after purchasing an additional 8,716,964 shares during the period. Swiss National Bank raised its stake in Apple by 13.1% during the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after purchasing an additional 8,230,300 shares during the period. Finally, Verity Asset Management Inc. raised its stake in Apple by 29,097.9% during the first quarter. Verity Asset Management Inc. now owns 5,300,881 shares of the iPhone maker’s stock worth $189,000 after purchasing an additional 5,282,726 shares during the period. Hedge funds and other institutional investors own 57.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AAPL. Sanford C. Bernstein cut their price target on shares of Apple from $170.00 to $125.00 in a research note on Monday, January 9th. National Bank Financial cut their price target on shares of Apple to $54.00 and set an “outperform” rating on the stock in a research note on Friday. UBS Group set a $180.00 price objective on shares of Apple in a research report on Thursday, January 12th. Wedbush dropped their price objective on shares of Apple from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, January 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $170.00 price objective on shares of Apple in a research report on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $166.73.

Apple Trading Up 1.9 %

Apple stock opened at $137.87 on Friday. The firm’s 50-day moving average is $138.72 and its 200-day moving average is $148.09. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $179.61. The company has a market cap of $2.18 trillion, a P/E ratio of 22.56, a PEG ratio of 1.74 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03. The firm 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%. Apple’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.24 EPS. On average, equities analysts expect that Apple Inc. will post 6.19 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were given a $0.23 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.92 annualized dividend and a yield of 0.67%. Apple’s dividend payout ratio is presently 15.06%.

Insider Activity at Apple

In related news, insider Chris Kondo sold 20,200 shares of Apple stock in a transaction dated 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 sale, the insider now directly owns 31,505 shares in the company, valued at approximately $4,685,423.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Apple news, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the transaction, the insider now owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Luca Maestri sold 176,299 shares of the firm’s 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 transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

About Apple

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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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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