Cherrydale Wealth Management LLC Raises Holdings in Apple Inc. (NASDAQ:AAPL)

Cherrydale Wealth Management LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 0.7% during the third quarter, HoldingsChannel reports. The firm owned 12,424 shares of the iPhone maker’s stock after purchasing an additional 81 shares during the period. Apple comprises 1.2% of Cherrydale Wealth Management LLC’s holdings, making the stock its 11th biggest position. Cherrydale Wealth Management LLC’s holdings in Apple were worth $2,895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Verus Financial Partners Inc. raised its stake in shares of Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after buying an additional 48 shares in the last quarter. Brown Financial Advisory grew its holdings in Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 50 shares during the period. Core Wealth Management Inc. raised its position in Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares in the last quarter. Lowery Thomas LLC lifted its holdings in Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after acquiring an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. boosted its position in shares of Apple by 1.1% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Up 1.3 %

Shares of NASDAQ AAPL opened at $242.65 on Wednesday. The stock has a market capitalization of $3.67 trillion, a PE ratio of 39.91, a P/E/G ratio of 2.35 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a fifty day moving average of $229.59 and a 200-day moving average of $220.74. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $242.76.

Apple (NASDAQ:AAPL) last posted 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. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 earnings per share. On average, analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research note on Monday, November 25th. New Street Research reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Bank of America reiterated a “buy” rating and set a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. Finally, Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and raised their price target for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Two investment 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 company. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $235.68.

Apple 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.