Cedar Wealth Management LLC Sells 165 Shares of Apple Inc. (NASDAQ:AAPL)

Cedar Wealth Management LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,536 shares of the iPhone maker’s stock after selling 165 shares during the quarter. Apple makes up approximately 0.6% of Cedar Wealth Management LLC’s holdings, making the stock its 25th largest holding. Cedar Wealth Management LLC’s holdings in Apple were worth $1,798,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Sandy Cove Advisors LLC lifted its stake in shares of Apple by 16.6% in the 1st quarter. Sandy Cove Advisors LLC now owns 47,694 shares of the iPhone maker’s stock valued at $8,179,000 after purchasing an additional 6,796 shares during the period. Deltec Asset Management LLC lifted its stake in shares of Apple by 18.3% in the 1st quarter. Deltec Asset Management LLC now owns 25,004 shares of the iPhone maker’s stock valued at $4,288,000 after purchasing an additional 3,875 shares during the period. Strata Wealth Advisors LLC increased its position in shares of Apple by 31.3% in the 1st quarter. Strata Wealth Advisors LLC now owns 16,835 shares of the iPhone maker’s stock valued at $2,887,000 after buying an additional 4,018 shares in the last quarter. WJ Wealth Management LLC increased its holdings in Apple by 3.8% during the 1st quarter. WJ Wealth Management LLC now owns 14,480 shares of the iPhone maker’s stock worth $2,483,000 after purchasing an additional 536 shares in the last quarter. Finally, Clarity Wealth Advisors LLC increased its holdings in Apple by 0.5% during the 1st quarter. Clarity Wealth Advisors LLC now owns 126,294 shares of the iPhone maker’s stock worth $21,657,000 after purchasing an additional 616 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Tigress Financial raised their price objective on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Bank of America restated a “buy” rating and issued a $256.00 price objective on shares of Apple in a report on Thursday, October 3rd. Barclays decreased their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. Robert W. Baird raised their target price on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, TD Cowen raised their target price on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $235.51.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $227.48 on Friday. The company’s 50 day simple moving average is $226.91 and its 200 day simple moving average is $213.51. The stock has a market capitalization of $3.44 trillion, a price-to-earnings ratio of 37.41, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 412,746 shares of company stock worth $93,021,362. Company 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.