StoneCrest Wealth Management Inc. Has $2.08 Million Position in Apple Inc. (NASDAQ:AAPL)

StoneCrest Wealth Management Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL) by 5.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,944 shares of the iPhone maker’s stock after selling 514 shares during the quarter. Apple makes up about 1.5% of StoneCrest Wealth Management Inc.’s holdings, making the stock its 22nd largest holding. StoneCrest Wealth Management Inc.’s holdings in Apple were worth $2,084,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AAPL. Hershey Financial Advisers LLC acquired a new position in shares of Apple during the second quarter worth about $42,000. Hoese & Co LLP boosted its position in Apple by 6.7% during the 2nd 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 last quarter. Sage Financial Group Inc. bought a new position in shares of Apple during the 2nd quarter worth approximately $206,000. Benchmark Wealth Management LLC bought a new stake in shares of Apple in the second quarter worth $208,000. Finally, SMH Capital Advisors Inc. acquired a new position in Apple during the second quarter worth $209,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Friday, November 1st. The Goldman Sachs Group upped their target price on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. New Street Research reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. TD Cowen upped their price objective on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Bank of America reissued a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.25.

Insider Activity

In other news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares in the company, 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. In the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL stock opened at $232.87 on Tuesday. The business has a fifty day simple moving average of $228.06 and a 200 day simple moving average of $218.64. The company has a market cap of $3.52 trillion, a P/E ratio of 38.30, a P/E/G ratio of 2.25 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company posted $1.46 EPS. On average, sell-side analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Apple Company Profile

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.