Concentric Wealth Management LLC Has $13.88 Million Stake in Apple Inc. (NASDAQ:AAPL)

Concentric Wealth Management LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 9.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,556 shares of the iPhone maker’s stock after buying an additional 4,968 shares during the period. Apple comprises 3.4% of Concentric Wealth Management LLC’s portfolio, making the stock its 2nd biggest holding. Concentric Wealth Management LLC’s holdings in Apple were worth $13,877,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Apple by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after buying an additional 5,893,741 shares during the period. International Assets Investment Management LLC lifted its stake in Apple by 20,372.7% during the third 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 period. Fisher Asset Management LLC lifted its stake in Apple by 1.9% during the third quarter. Fisher Asset Management LLC now owns 58,615,053 shares of the iPhone maker’s stock worth $13,657,308,000 after purchasing an additional 1,112,033 shares during the period. Dimensional Fund Advisors LP lifted its stake in Apple by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after purchasing an additional 2,785,807 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after purchasing an additional 3,245,281 shares during the period. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of analyst reports. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Citigroup raised their price target on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday. Maxim Group raised their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Morgan Stanley raised their price target on shares of Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Monness Crespi & Hardt raised their price objective on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Four 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $242.52.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were 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 approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction 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 in the company, valued at $3,528,946.53. This represents a 21.13 % 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.

Apple Price Performance

AAPL opened at $236.00 on Monday. The company has a fifty day moving average price of $241.68 and a two-hundred day moving average price of $230.84. 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 52 week low of $164.07 and a 52 week high of $260.10. The firm has a market capitalization of $3.55 trillion, a PE ratio of 38.82, a P/E/G ratio of 2.39 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that Apple Inc. will post 7.34 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple’s dividend payout ratio is 16.45%.

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.