CarsonAllaria Wealth Management Ltd. Has $3.10 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

CarsonAllaria Wealth Management Ltd. lifted its stake in Apple Inc. (NASDAQ:AAPL) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,293 shares of the iPhone maker’s stock after acquiring an additional 149 shares during the period. Apple makes up 1.8% of CarsonAllaria Wealth Management Ltd.’s portfolio, making the stock its 18th largest holding. CarsonAllaria Wealth Management Ltd.’s holdings in Apple were worth $3,097,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Verus Financial Partners Inc. grew its position in shares of Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after purchasing an additional 48 shares during the period. Brown Financial Advisory grew its position in shares of Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares during the period. Core Wealth Management Inc. grew its position in shares of Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares during the period. Lowery Thomas LLC grew its position in shares of Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after purchasing an additional 50 shares during the period. Finally, Latitude Advisors LLC grew its position in shares of Apple by 0.3% in the 3rd 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 period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AAPL shares. Citigroup boosted their price objective on Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Evercore ISI reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Tigress Financial upped their price target on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.78.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $248.13 on Monday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock’s fifty day moving average price is $232.50 and its two-hundred day moving average price is $223.88. Apple Inc. has a one year low of $164.07 and a one year high of $250.80. The firm has a market cap of $3.75 trillion, a price-to-earnings ratio of 40.81, a P/E/G ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the firm posted $1.46 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Transactions at Apple

In other news, 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 transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is owned by corporate insiders.

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.