Cobblestone Asset Management LLC Buys 112 Shares of Apple Inc. (NASDAQ:AAPL)

Cobblestone Asset Management LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,947 shares of the iPhone maker’s stock after purchasing an additional 112 shares during the quarter. Apple comprises about 0.8% of Cobblestone Asset Management LLC’s holdings, making the stock its 20th biggest position. Cobblestone Asset Management LLC’s holdings in Apple were worth $1,386,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hershey Financial Advisers LLC bought a new stake in Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc raised its position in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the last quarter. Cordant Inc. grew its stake in shares of Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after acquiring an additional 173 shares in the last quarter. Hoese & Co LLP raised its holdings in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. bought a new position in shares of Apple during the second quarter valued at about $206,000. 67.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research report on Monday, November 25th. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and lifted their target price for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Tuesday. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Finally, Bank of America increased their target price on shares of Apple to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $236.78.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

NASDAQ AAPL opened at $247.96 on Friday. 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 52 week low of $164.07 and a 52 week high of $250.80. The firm has a market capitalization of $3.75 trillion, a P/E ratio of 40.78, a PEG ratio of 2.42 and a beta of 1.23. The company has a 50-day moving average price of $231.63 and a 200-day moving average price of $222.83.

Apple (NASDAQ:AAPL) last released 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 return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous year, the business earned $1.46 earnings per share. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

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

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.