Apple Inc. (NASDAQ:AAPL) Shares Purchased by Cypress Point Wealth Management LLC

Cypress Point Wealth Management LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,417 shares of the iPhone maker’s stock after acquiring an additional 126 shares during the quarter. Apple makes up approximately 1.0% of Cypress Point Wealth Management LLC’s portfolio, making the stock its 26th biggest position. Cypress Point Wealth Management LLC’s holdings in Apple were worth $2,427,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. High Net Worth Advisory Group LLC boosted its stake in shares of Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after buying an additional 1,066 shares during the period. Granite Investment Partners LLC increased its position in shares of Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. Sterling Investment Counsel LLC lifted its position in shares of Apple by 3.8% during the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after purchasing an additional 2,565 shares during the last quarter. Finally, Silicon Valley Capital Partners grew its stake in shares of Apple by 12.8% during the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after purchasing an additional 28,799 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 2.0 %

AAPL opened at $237.87 on Thursday. The business’s fifty day simple moving average is $240.63 and its 200 day simple moving average is $230.52. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The firm has a market cap of $3.58 trillion, a P/E ratio of 39.12, a PEG ratio of 2.41 and a beta of 1.20. 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 (NASDAQ:AAPL) last announced 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 business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio is presently 16.45%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AAPL shares. Wells Fargo & Company raised their price target on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Oppenheimer restated a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. UBS Group reiterated a “neutral” rating and set a $236.00 price target on shares of Apple in a research note on Monday, December 2nd. Evercore ISI reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Finally, Rosenblatt Securities raised their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.85.

Insider Buying and Selling at Apple

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