Apple Inc. (NASDAQ:AAPL) is Chronos Wealth Management LLC’s 3rd Largest Position

Chronos Wealth Management LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 0.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,922 shares of the iPhone maker’s stock after selling 280 shares during the quarter. Apple comprises 7.1% of Chronos Wealth Management LLC’s holdings, making the stock its 3rd largest position. Chronos Wealth Management LLC’s holdings in Apple were worth $12,831,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Sar Wealth Management Group LLC raised its position in Apple by 10.8% during the first quarter. Sar Wealth Management Group LLC now owns 10,402 shares of the iPhone maker’s stock valued at $1,784,000 after acquiring an additional 1,013 shares in the last quarter. Agate Pass Investment Management LLC grew its holdings in Apple by 2.5% in the first quarter. Agate Pass Investment Management LLC now owns 45,212 shares of the iPhone maker’s stock valued at $7,753,000 after purchasing an additional 1,098 shares during the period. Franklin Street Advisors Inc. NC grew its holdings in Apple by 0.7% in the first quarter. Franklin Street Advisors Inc. NC now owns 418,593 shares of the iPhone maker’s stock valued at $71,780,000 after purchasing an additional 3,057 shares during the period. Viking Fund Management LLC grew its holdings in Apple by 15.0% in the first quarter. Viking Fund Management LLC now owns 23,000 shares of the iPhone maker’s stock valued at $3,944,000 after purchasing an additional 3,000 shares during the period. Finally, ERn Financial LLC grew its holdings in Apple by 2.0% in the first quarter. ERn Financial LLC now owns 41,893 shares of the iPhone maker’s stock valued at $7,184,000 after purchasing an additional 809 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

AAPL stock opened at $222.91 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $3.39 trillion, a PE ratio of 33.93, a P/E/G ratio of 2.45 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The business’s fifty day moving average price is $227.18 and its 200 day moving average price is $212.03.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.15. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 6.6 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 11th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s payout ratio is 15.22%.

Analyst Upgrades and Downgrades

Several analysts have commented on AAPL shares. New Street Research reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. TD Cowen lifted their price target on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Wedbush reaffirmed an “outperform” rating and issued a $285.00 price target on shares of Apple in a research note on Monday, September 9th. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price target on shares of Apple in a research note on Monday, September 9th. Finally, Tigress Financial lifted their price target on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.23.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s 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 of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 in the last three months. 0.06% of the stock is owned by corporate insiders.

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.