Apple Inc. (NASDAQ:AAPL) Shares Purchased by Cedar Point Capital Partners LLC

Cedar Point Capital Partners LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,867 shares of the iPhone maker’s stock after acquiring an additional 86 shares during the period. Apple makes up 0.9% of Cedar Point Capital Partners LLC’s portfolio, making the stock its 25th biggest position. Cedar Point Capital Partners LLC’s holdings in Apple were worth $1,178,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Better Money Decisions LLC grew its position in Apple by 2.8% in the fourth quarter. Better Money Decisions LLC now owns 18,057 shares of the iPhone maker’s stock valued at $3,477,000 after acquiring an additional 499 shares in the last quarter. Howland Capital Management LLC boosted its stake in shares of Apple by 0.7% in the fourth quarter. Howland Capital Management LLC now owns 359,991 shares of the iPhone maker’s stock valued at $69,309,000 after purchasing an additional 2,488 shares during the period. Clay Northam Wealth Management LLC grew its holdings in Apple by 1.1% during the 4th quarter. Clay Northam Wealth Management LLC now owns 57,409 shares of the iPhone maker’s stock valued at $11,053,000 after purchasing an additional 648 shares in the last quarter. BetterWealth LLC increased its stake in Apple by 0.7% during the 4th quarter. BetterWealth LLC now owns 153,368 shares of the iPhone maker’s stock worth $29,528,000 after buying an additional 1,129 shares during the period. Finally, North Point Portfolio Managers Corp OH boosted its position in Apple by 5.7% in the 4th quarter. North Point Portfolio Managers Corp OH now owns 4,811 shares of the iPhone maker’s stock valued at $926,000 after buying an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In related news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold 188,884 shares of company stock worth $38,092,387 in the last three months. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 0.8 %

Shares of Apple stock opened at $224.53 on Friday. The business has a fifty day simple moving average of $220.03 and a 200-day simple moving average of $194.13. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The firm has a market cap of $3.44 trillion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 145.35%. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the previous year, the company posted $1.26 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post 6.61 EPS for the current fiscal year.

Apple announced that its board has initiated a share repurchase program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of analyst reports. TD Cowen lifted their target price on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Barclays dropped their price objective on Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. UBS Group reiterated a “neutral” rating and set a $190.00 target price on shares of Apple in a research note on Monday, July 1st. Itau BBA Securities upgraded shares of Apple from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $162.00 to $188.00 in a research note on Friday, May 3rd. Finally, Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $233.63.

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.