CCG Wealth Management LLC Decreases Stake in Apple Inc. (NASDAQ:AAPL)

CCG Wealth Management LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,734 shares of the iPhone maker’s stock after selling 50 shares during the period. Apple accounts for 1.8% of CCG Wealth Management LLC’s investment portfolio, making the stock its 13th largest holding. CCG Wealth Management LLC’s holdings in Apple were worth $3,200,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Verus Financial Partners Inc. grew its stake in Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after buying an additional 48 shares during the last quarter. Brown Financial Advisory grew its position in shares of Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares during the last quarter. Core Wealth Management Inc. increased its stake in shares of 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 purchasing an additional 50 shares during the period. Lowery Thomas LLC lifted its position in shares of Apple by 0.7% during the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. boosted its stake in Apple by 1.1% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after purchasing an additional 51 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the 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 in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research analyst reports. Moffett Nathanson cut their price target on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. Melius Research reissued a “buy” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. Wedbush restated an “outperform” rating and set a $285.00 price objective on shares of Apple in a report on Monday, September 9th. UBS Group increased their target price on shares of Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

Apple Stock Up 1.3 %

NASDAQ:AAPL opened at $232.87 on Tuesday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The firm has a market capitalization of $3.52 trillion, a price-to-earnings ratio of 38.30, a price-to-earnings-growth 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. The stock’s 50 day moving average price is $228.06 and its two-hundred day moving average price is $218.64.

Apple (NASDAQ:AAPL) last issued 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 business 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 revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.46 earnings per share. Equities research analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is currently 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.