Cherrydale Wealth Management LLC Acquires 81 Shares of Apple Inc. (NASDAQ:AAPL)

Cherrydale Wealth Management LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 0.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,424 shares of the iPhone maker’s stock after buying an additional 81 shares during the period. Apple makes up 1.2% of Cherrydale Wealth Management LLC’s portfolio, making the stock its 11th largest holding. Cherrydale Wealth Management LLC’s holdings in Apple were worth $2,895,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Sapient Capital LLC boosted its position in shares of Apple by 3.7% during the third quarter. Sapient Capital LLC now owns 1,368,787 shares of the iPhone maker’s stock valued at $318,927,000 after buying an additional 48,738 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Apple during the third quarter worth $3,566,000. Accelerate Investment Advisors LLC purchased a new stake in shares of Apple during the third quarter valued at $2,808,000. Paladin Wealth LLC bought a new position in shares of Apple in the third quarter worth about $2,871,000. Finally, Orca Investment Management LLC increased its stake in Apple by 5.6% in the 3rd quarter. Orca Investment Management LLC now owns 40,046 shares of the iPhone maker’s stock worth $9,331,000 after buying an additional 2,116 shares during the period. 60.41% of the stock is currently owned by institutional investors.

Apple Trading Up 1.3 %

Shares of NASDAQ:AAPL opened at $242.65 on Wednesday. The company has a market capitalization of $3.67 trillion, a PE ratio of 39.91, a PEG ratio of 2.35 and a beta of 1.23. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $242.76. The business has a 50 day moving average of $229.59 and a two-hundred day moving average of $220.74. 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 announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the firm posted $1.46 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The firm also recently declared 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 of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s dividend payout ratio is presently 16.45%.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. 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 cut their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research note on Friday, October 25th. Oppenheimer reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Finally, Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and upped their price objective for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $235.68.

Apple 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.