Apple Inc. (NASDAQ:AAPL) Holdings Reduced by Cedar Wealth Management LLC

Cedar Wealth Management LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 8.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,801 shares of the iPhone maker’s stock after selling 735 shares during the period. Apple makes up approximately 0.6% of Cedar Wealth Management LLC’s holdings, making the stock its 27th biggest position. Cedar Wealth Management LLC’s holdings in Apple were worth $1,818,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. High Net Worth Advisory Group LLC boosted its holdings in shares of Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after acquiring an additional 1,066 shares in the last quarter. Granite Investment Partners LLC boosted its holdings in shares of Apple by 2.7% in the second 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 in the last quarter. Amara Financial LLC. bought a new position in shares of Apple in the third quarter valued at approximately $288,000. Truist Financial Corp boosted its holdings in shares of Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares in the last quarter. Finally, Sterling Investment Counsel LLC boosted its holdings in shares of Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after acquiring an additional 2,565 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $239.36 on Thursday. The company’s fifty day moving average is $241.17 and its 200-day moving average is $230.75. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The firm has a market cap of $3.60 trillion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. 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 (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 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 company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the business posted $1.46 EPS. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value 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 $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on AAPL shares. Monness Crespi & Hardt increased their price objective on shares of Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. TD Cowen reissued a “buy” rating on shares of Apple in a research note on Tuesday. Jefferies Financial Group lowered shares of Apple from a “hold” rating to an “underperform” rating and cut their target price for the company from $211.84 to $200.75 in a research note on Tuesday, January 21st. Wedbush reissued an “outperform” rating and set a $325.00 target price on shares of Apple in a research note on Thursday, January 23rd. Finally, Moffett Nathanson reissued a “sell” rating and set a $188.00 target price (down from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.05.

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.