Apple Inc. (NASDAQ:AAPL) Position Increased by Cypress Point Wealth Management LLC

Cypress Point Wealth Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 1.2% in the third quarter, HoldingsChannel.com reports. The fund owned 10,417 shares of the iPhone maker’s stock after buying an additional 126 shares during the quarter. Apple accounts for 1.0% of Cypress Point Wealth Management LLC’s portfolio, making the stock its 26th biggest position. Cypress Point Wealth Management LLC’s holdings in Apple were worth $2,427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Bull Oak Capital LLC boosted its holdings in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new stake in Apple in the second quarter worth approximately $42,000. Christopher J. Hasenberg Inc boosted its stake in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares in the last quarter. ARK Investment Management LLC acquired a new position in shares of Apple during the 3rd quarter valued at $110,000. Finally, Cordant Inc. raised its stake in shares of Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were 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 trade represents a 21.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of analyst reports. Piper Sandler reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Oppenheimer reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Evercore ISI reiterated a “buy” rating and set a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Finally, New Street Research reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three 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 an average target price of $239.85.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $237.87 on Thursday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. 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 company has a market cap of $3.58 trillion, a P/E ratio of 39.12, a P/E/G ratio of 2.41 and a beta of 1.20. The business’s 50 day moving average is $240.63 and its two-hundred day moving average is $230.52.

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

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 dividend yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio 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.