Chronos Wealth Management LLC Acquires 182 Shares of Apple Inc. (NASDAQ:AAPL)

Chronos Wealth Management LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,104 shares of the iPhone maker’s stock after buying an additional 182 shares during the quarter. Apple comprises 7.4% of Chronos Wealth Management LLC’s investment portfolio, making the stock its 2nd largest holding. Chronos Wealth Management LLC’s holdings in Apple were worth $14,237,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AAPL. Verus Financial Partners Inc. lifted its holdings in shares of Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares during the period. Brown Financial Advisory increased its stake in shares of Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. raised its holdings in shares of Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after acquiring an additional 50 shares during the last quarter. Lowery Thomas LLC lifted its stake in shares of Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after buying an additional 50 shares in the last quarter. Finally, Latitude Advisors LLC increased its holdings in shares of Apple by 0.3% in the third quarter. Latitude Advisors LLC now owns 17,236 shares of the iPhone maker’s stock valued at $4,016,000 after purchasing an additional 50 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Performance

NASDAQ:AAPL opened at $247.96 on Friday. The firm’s fifty day simple moving average is $231.63 and its 200-day simple moving average is $222.83. The stock has a market cap of $3.75 trillion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 2.42 and a beta of 1.23. 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 Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $250.80.

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 the consensus estimate 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 the consensus estimate of $94.52 billion. During the same period last year, the firm posted $1.46 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Insiders Place Their Bets

In other news, 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 completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value 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. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 408,170 shares of company stock valued at $92,007,745. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of analyst reports. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Oppenheimer restated a “buy” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Moffett Nathanson cut their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research note on Friday, October 25th. Finally, Maxim Group upped their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $236.78.

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.