Arthur M. Cohen & Associates LLC Has $42.05 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Arthur M. Cohen & Associates LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 185,877 shares of the iPhone maker’s stock after selling 511 shares during the period. Apple makes up 7.6% of Arthur M. Cohen & Associates LLC’s investment portfolio, making the stock its 4th largest holding. Arthur M. Cohen & Associates LLC’s holdings in Apple were worth $42,053,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AAPL. 1620 Investment Advisors Inc. raised its stake in Apple by 0.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after purchasing an additional 45 shares during the period. Carolina Wealth Advisors LLC grew its holdings in shares of Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after buying an additional 46 shares in the last quarter. Verus Financial Partners Inc. raised its position in Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after buying an additional 48 shares during the period. Brown Financial Advisory lifted its stake in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 50 shares in the last quarter. Finally, Core Wealth Management Inc. boosted its position in Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $242.70 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The stock has a market capitalization of $3.67 trillion, a P/E ratio of 39.92, a PEG ratio of 2.41 and a beta of 1.20. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm’s 50 day moving average is $239.91 and its 200 day moving average is $229.75.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the company earned $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Analysts Set New Price Targets

AAPL has been the topic of several research reports. Maxim Group upped their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Citigroup increased their price objective on Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Bank of America restated a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Friday, January 3rd. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Sanford C. Bernstein boosted their price target on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $237.64.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the company’s 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 transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

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.