Cornerstone Management Inc. Has $238,000 Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Cornerstone Management Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 19.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,022 shares of the iPhone maker’s stock after selling 247 shares during the period. Cornerstone Management Inc.’s holdings in Apple were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in AAPL. Swedbank AB bought a new position in shares of Apple during the first quarter valued at $3,026,492,000. Strategic Financial Concepts LLC raised its stake in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after acquiring an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after acquiring an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after acquiring an additional 5,405,542 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Apple during the second quarter valued at $834,368,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AAPL shares. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Friday, November 1st. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Moffett Nathanson decreased their price objective on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $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 ninety days, insiders sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is owned by corporate insiders.

Apple Trading Down 0.1 %

Shares of AAPL opened at $234.93 on Thursday. 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. The company has a 50 day simple moving average of $228.71 and a two-hundred day simple moving average of $219.12. The firm has a market cap of $3.55 trillion, a P/E ratio of 38.64, a price-to-earnings-growth ratio of 2.28 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share 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 firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the firm posted $1.46 earnings per share. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

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