Cardinal Point Capital Management ULC Acquires 245 Shares of Apple Inc. (NASDAQ:AAPL)

Cardinal Point Capital Management ULC boosted its position in Apple Inc. (NASDAQ:AAPL) by 0.9% during the third quarter, Holdings Channel reports. The fund owned 28,702 shares of the iPhone maker’s stock after acquiring an additional 245 shares during the period. Apple comprises 1.1% of Cardinal Point Capital Management ULC’s holdings, making the stock its 16th biggest holding. Cardinal Point Capital Management ULC’s holdings in Apple were worth $6,688,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Fidelis Capital Partners LLC boosted its holdings in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the period. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the 2nd quarter worth approximately $42,000. Hoese & Co LLP increased its holdings in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares in the last quarter. Sage Financial Group Inc. bought a new position in Apple in the 2nd quarter valued at approximately $206,000. Finally, Benchmark Wealth Management LLC purchased a new position in Apple in the 2nd quarter worth about $208,000. Institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Tigress Financial raised their target price on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. New Street Research restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Friday, November 1st. Melius Research reaffirmed a “buy” rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Finally, Rosenblatt Securities raised their price target on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $235.25.

Apple Stock Performance

Shares of AAPL stock opened at $229.87 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm’s 50 day moving average price is $227.73 and its 200-day moving average price is $218.30. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The firm has a market cap of $3.47 trillion, a P/E ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.46 EPS. As a group, equities research analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

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

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated 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 owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock worth $92,007,745 over the last three months. 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.