Kades & Cheifetz LLC Sells 290 Shares of Apple Inc. (NASDAQ:AAPL)

Kades & Cheifetz LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 0.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,828 shares of the iPhone maker’s stock after selling 290 shares during the period. Apple comprises 5.2% of Kades & Cheifetz LLC’s portfolio, making the stock its 5th largest position. Kades & Cheifetz LLC’s holdings in Apple were worth $9,047,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hershey Financial Advisers LLC bought a new stake in shares of Apple during the 2nd quarter valued at about $42,000. Access Investment Management LLC acquired a new position in Apple during the 1st quarter valued at about $140,000. Hoese & Co LLP lifted its position in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the period. Sage Financial Group Inc. acquired a new position in Apple during the second quarter worth about $206,000. Finally, Benchmark Wealth Management LLC acquired a new position in Apple in the second quarter worth approximately $208,000. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AAPL has been the subject of several research analyst reports. Tigress Financial upped their price target on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Maxim Group lifted their price target on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and set a $285.00 target price on shares of Apple in a research report on Monday, September 9th. Raymond James raised their target price on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, UBS Group raised their target price on Apple to $236.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

Apple Price Performance

Apple stock opened at $228.28 on Wednesday. The business has a 50-day moving average of $227.34 and a 200-day moving average of $217.31. The firm has a market capitalization of $3.45 trillion, a P/E ratio of 37.55, a PEG ratio of 2.20 and a beta of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during 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 business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. On average, equities analysts anticipate 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 given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

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.