CVA Family Office LLC Trims Position in Apple Inc. (NASDAQ:AAPL)

CVA Family Office LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,360 shares of the iPhone maker’s stock after selling 268 shares during the quarter. Apple accounts for approximately 1.9% of CVA Family Office LLC’s holdings, making the stock its 9th biggest holding. CVA Family Office LLC’s holdings in Apple were worth $11,967,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Hershey Financial Advisers LLC bought a new stake in Apple in the second quarter worth $42,000. Christopher J. Hasenberg Inc increased its holdings in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares in the last quarter. Hoese & Co LLP boosted its holdings in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new stake in shares of Apple in the second quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC bought a new position in Apple during the second quarter valued at approximately $208,000. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Apple in a research note on Friday, November 1st. Bank of America reaffirmed a “buy” rating and set a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. Loop Capital decreased their price target on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Rosenblatt Securities boosted their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Citigroup lifted their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two investment 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $235.68.

Apple Stock Up 1.0 %

AAPL stock opened at $239.59 on Tuesday. The company has a market cap of $3.62 trillion, a price-to-earnings ratio of 39.41, a P/E/G ratio of 2.33 and a beta of 1.24. The business has a 50 day moving average price of $229.02 and a two-hundred day moving average price of $220.02. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $240.79. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.46 earnings per share. Analysts anticipate 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 was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the company’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 sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 408,170 shares of company stock worth $92,007,745. Insiders own 0.06% of the company’s stock.

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.