Apple Inc. (NASDAQ:AAPL) Shares Bought by Cranbrook Wealth Management LLC

Cranbrook Wealth Management LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 92.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,741 shares of the iPhone maker’s stock after acquiring an additional 10,419 shares during the quarter. Apple makes up 1.1% of Cranbrook Wealth Management LLC’s holdings, making the stock its 24th largest holding. Cranbrook Wealth Management LLC’s holdings in Apple were worth $4,579,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Fidelis Capital Partners LLC grew its holdings in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 31,278 shares during the last quarter. Access Investment Management LLC purchased a new position in shares of Apple during the first quarter valued at $140,000. Hoese & Co LLP grew its holdings in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares in the last quarter. Sage Financial Group Inc. purchased a new position in shares of Apple during the second quarter valued at $206,000. Finally, Benchmark Wealth Management LLC purchased a new position in shares of Apple during the second quarter valued at $208,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on AAPL. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research report on Friday. Cfra lifted their price objective on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. UBS Group reaffirmed a “hold” rating and issued a $236.00 price target on shares of Apple in a research report on Wednesday, October 16th. Rosenblatt Securities boosted their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Robert W. Baird boosted their price target on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Apple Stock Down 0.4 %

Shares of AAPL opened at $222.01 on Tuesday. The company has a market capitalization of $3.38 trillion, a P/E ratio of 36.51, a PEG ratio of 2.41 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The business’s 50 day simple moving average is $227.07 and its 200-day simple moving average is $213.03.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 145.09%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. As a group, sell-side analysts predict that Apple Inc. will post 7.48 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated 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 owns 489,944 shares in the company, valued at approximately $111,148,695.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Jeffrey E. Williams sold 59,730 shares of the firm’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 in the company, valued at approximately $111,148,695.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 417,924 shares of company stock worth $94,142,399. Corporate 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.