Hedeker Wealth LLC Increases Stock Position in Apple Inc. (NASDAQ:AAPL)

Hedeker Wealth LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 65,496 shares of the iPhone maker’s stock after buying an additional 729 shares during the period. Apple comprises approximately 4.0% of Hedeker Wealth LLC’s holdings, making the stock its 4th largest position. Hedeker Wealth LLC’s holdings in Apple were worth $15,261,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Bull Oak Capital LLC boosted its position in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the last quarter. Hershey Financial Advisers LLC purchased a new position in shares of Apple during the second quarter valued at about $42,000. Christopher J. Hasenberg Inc increased its holdings in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the last quarter. Cordant Inc. lifted its position in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares in the last quarter. Finally, Sage Financial Group Inc. bought a new position in Apple during the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of a number of research reports. Rosenblatt Securities lifted their price objective on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research report on Friday, October 25th. Bank of America raised their price objective on Apple to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their target price on Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $237.47.

Insider Activity

In other Apple news, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated 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 sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction dated 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 owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 508,170 shares of company stock worth $117,004,745. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL stock opened at $255.59 on Monday. The stock’s 50-day moving average is $237.41 and its 200 day moving average is $227.89. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. 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 company has a market cap of $3.86 trillion, a P/E ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for 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%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.46 EPS. Research analysts predict that Apple Inc. will post 7.43 earnings per share 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is presently 16.45%.

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.