Chemistry Wealth Management LLC Has $32.68 Million Stake in Apple Inc. (NASDAQ:AAPL)

Chemistry Wealth Management LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,268 shares of the iPhone maker’s stock after selling 9,171 shares during the quarter. Apple makes up 7.7% of Chemistry Wealth Management LLC’s investment portfolio, making the stock its 3rd largest position. Chemistry Wealth Management LLC’s holdings in Apple were worth $32,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Fidelis Capital Partners LLC raised its position in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the last quarter. Hershey Financial Advisers LLC purchased a new position in shares of Apple during the second quarter valued at approximately $42,000. Access Investment Management LLC bought a new position in shares of Apple during the first quarter valued at approximately $140,000. Hoese & Co LLP lifted its stake in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the period. Finally, Sage Financial Group Inc. bought a new stake in Apple in the second quarter valued at $206,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on AAPL. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Melius Research reiterated a “buy” rating and set a $265.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Barclays decreased their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. Evercore ISI reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Finally, Morgan Stanley restated an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $235.25.

Apple Price Performance

NASDAQ AAPL opened at $229.87 on Friday. The company has a market cap of $3.47 trillion, a PE ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24. The firm’s 50 day moving average price is $227.73 and its 200-day moving average price is $217.81. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the business posted $1.46 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 35.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 in the last 90 days. Insiders own 0.06% of the company’s stock.

About Apple

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.