CFS Investment Advisory Services LLC Purchases New Holdings in Apple Inc. (NASDAQ:AAPL)

CFS Investment Advisory Services LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 55,952 shares of the iPhone maker’s stock, valued at approximately $13,037,000. Apple accounts for approximately 1.1% of CFS Investment Advisory Services LLC’s portfolio, making the stock its 21st largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bull Oak Capital LLC raised its position in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new position in shares of Apple during the 2nd quarter worth $42,000. Christopher J. Hasenberg Inc lifted its position in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the last quarter. ARK Investment Management LLC acquired a new stake in Apple in the third quarter valued at about $110,000. Finally, Cordant Inc. grew its position in Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ:AAPL opened at $236.00 on Friday. 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 twelve month low of $164.07 and a twelve month high of $260.10. The company has a fifty day moving average of $241.56 and a 200-day moving average of $230.86. The firm has a market capitalization of $3.55 trillion, a P/E ratio of 38.82, a P/E/G ratio of 2.39 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. As a group, sell-side analysts anticipate that Apple Inc. will post 7.34 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s payout ratio is currently 15.87%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research reports. Barclays increased their target price on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday. Monness Crespi & Hardt increased their price objective on shares of Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Wedbush reaffirmed an “outperform” rating and set a $325.00 target price on shares of Apple in a research note on Thursday, January 23rd. UBS Group reiterated a “neutral” rating and issued a $236.00 price target on shares of Apple in a research note on Monday, December 2nd. Finally, TD Cowen restated a “buy” rating on shares of Apple in a research report on Tuesday. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.52.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

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.