Cornerstone Wealth Group LLC Has $54.21 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Cornerstone Wealth Group LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 232,665 shares of the iPhone maker’s stock after buying an additional 1,044 shares during the period. Apple comprises 4.5% of Cornerstone Wealth Group LLC’s investment portfolio, making the stock its 4th largest holding. Cornerstone Wealth Group LLC’s holdings in Apple were worth $54,211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its position in Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after buying an additional 7,558,826 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in Apple by 22,870.6% in the third quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock worth $1,302,607,000 after buying an additional 5,566,250 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Apple in the second quarter worth approximately $834,368,000. Finally, Ameriprise Financial Inc. raised its position in Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after acquiring an additional 3,245,281 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on AAPL shares. Evercore ISI reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. 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, November 1st. Barclays decreased their price target on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. Finally, Wedbush raised their price objective on Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, December 26th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.47.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,130 shares of the company’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 transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % 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, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,435 shares of company stock valued at $39,376,002. 0.06% of the stock is owned by insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $250.42 on Thursday. The firm has a market capitalization of $3.79 trillion, a PE ratio of 41.19, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The firm has a 50-day moving average price of $238.41 and a 200 day moving average price of $228.58.

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 analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. Research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. Apple’s dividend payout ratio is presently 16.45%.

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.