Cahaba Wealth Management Inc. Has $5.81 Million Stake in Apple Inc. (NASDAQ:AAPL)

Cahaba Wealth Management Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,601 shares of the iPhone maker’s stock after selling 1,118 shares during the quarter. Apple comprises approximately 0.5% of Cahaba Wealth Management Inc.’s holdings, making the stock its 20th largest position. Cahaba Wealth Management Inc.’s holdings in Apple were worth $5,813,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Fidelis Capital Partners LLC boosted its holdings in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares during the period. Access Investment Management LLC acquired a new position in shares of Apple during the 1st quarter worth about $140,000. Hoese & Co LLP boosted its stake in Apple by 6.7% during the 2nd 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 period. Sage Financial Group Inc. acquired a new stake in Apple in the 2nd quarter valued at approximately $206,000. Finally, Benchmark Wealth Management LLC bought a new position in Apple in the 2nd quarter worth approximately $208,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Melius Research reissued a “buy” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. StockNews.com upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Tuesday. Moffett Nathanson assumed coverage on shares of Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price objective for the company. Finally, Tigress Financial lifted their target price on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $239.27.

Insider Activity

In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock worth $114,786,399 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $235.86 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The stock has a market capitalization of $3.62 trillion, a P/E ratio of 36.68, a P/E/G ratio of 2.40 and a beta of 1.24. The business has a 50-day moving average price of $226.46 and a two-hundred day moving average price of $209.33.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio is presently 15.55%.

Apple Company 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.