Cardinal Point Capital Management ULC Boosts Holdings in Apple Inc. (NASDAQ:AAPL)

Cardinal Point Capital Management ULC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,702 shares of the iPhone maker’s stock after acquiring an additional 245 shares during the period. Apple accounts for about 1.1% of Cardinal Point Capital Management ULC’s investment portfolio, making the stock its 16th largest position. Cardinal Point Capital Management ULC’s holdings in Apple were worth $6,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Fidelis Capital Partners LLC increased its position in shares of Apple by 17.9% in the first 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 in the last quarter. Hershey Financial Advisers LLC purchased a new stake in shares of Apple during the second quarter worth about $42,000. Hoese & Co LLP raised its position in shares of Apple by 6.7% in 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 in the last quarter. Sage Financial Group Inc. purchased a new position in shares of Apple during the 2nd quarter valued at approximately $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in shares of Apple during the second quarter worth approximately $208,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 over the last ninety days. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and boosted their target price for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. The Goldman Sachs Group upped their price target on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Barclays cut their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. Rosenblatt Securities upped their price target on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Morgan Stanley restated an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.25.

Apple Trading Up 0.6 %

NASDAQ AAPL opened at $229.87 on Monday. The stock has a market capitalization of $3.47 trillion, a P/E ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24. The business has a 50 day simple moving average of $227.73 and a 200 day simple moving average of $218.30. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a one year low of $164.07 and a one year high of $237.49.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. Apple’s revenue was up 6.1% on a year-over-year basis. Research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio is 16.45%.

Apple 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.