CWC Advisors LLC. Purchases Shares of 24,707 Apple Inc. (NASDAQ:AAPL)

CWC Advisors LLC. purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 24,707 shares of the iPhone maker’s stock, valued at approximately $5,757,000. Apple accounts for about 5.7% of CWC Advisors LLC.’s investment portfolio, making the stock its biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. High Net Worth Advisory Group LLC boosted its holdings in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after buying an additional 1,066 shares in the last quarter. Granite Investment Partners LLC lifted its position in shares of Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Truist Financial Corp boosted its stake in shares of Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares in the last quarter. Sterling Investment Counsel LLC grew its holdings in shares of Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after acquiring an additional 2,565 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its position in shares of Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after purchasing an additional 95,235 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock worth $117,004,745 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AAPL shares. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Friday, December 13th. Moffett Nathanson dropped their target price on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. UBS Group restated a “neutral” rating and issued a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Finally, Maxim Group increased their target price on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Apple Stock Up 1.1 %

Apple stock opened at $258.20 on Wednesday. The firm has a market cap of $3.90 trillion, a price-to-earnings ratio of 42.47, a P/E/G ratio of 2.41 and a beta of 1.23. The firm has a fifty day moving average price of $235.45 and a two-hundred day moving average price of $226.34. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $258.21. 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 (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 EPS. As a group, analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 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.