Cromwell Holdings LLC Purchases 1,782 Shares of Apple Inc. (NASDAQ:AAPL)

Cromwell Holdings LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,528 shares of the iPhone maker’s stock after purchasing an additional 1,782 shares during the quarter. Apple accounts for about 6.1% of Cromwell Holdings LLC’s investment portfolio, making the stock its largest holding. Cromwell Holdings LLC’s holdings in Apple were worth $9,443,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Carolina Wealth Advisors LLC raised its holdings in shares of Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after acquiring an additional 46 shares during the period. Verus Financial Partners Inc. grew its position in Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares in the last quarter. Brown Financial Advisory raised its stake in Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares during the period. Core Wealth Management Inc. lifted its holdings in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares in the last quarter. Finally, Lowery Thomas LLC boosted its position in shares of Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after buying an additional 50 shares during the period. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Tigress Financial upped their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price target on shares of Apple in a research report on Monday, September 9th. New Street Research reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Finally, Barclays cut their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $236.78.

Apple Price Performance

NASDAQ AAPL opened at $258.20 on Wednesday. The stock has a market capitalization of $3.90 trillion, a PE ratio of 42.47, a P/E/G ratio of 2.41 and a beta of 1.23. The stock has a 50-day simple moving average of $235.45 and a 200 day simple moving average of $226.34. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $258.21.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the business earned $1.46 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 7.43 EPS 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. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is owned by insiders.

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.