Cedrus LLC Has $3.69 Million Position in Apple Inc. (NASDAQ:AAPL)

Cedrus LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,499 shares of the iPhone maker’s stock after buying an additional 171 shares during the quarter. Apple accounts for approximately 1.8% of Cedrus LLC’s holdings, making the stock its 15th biggest holding. Cedrus LLC’s holdings in Apple were worth $3,686,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Callan Capital LLC raised its holdings in shares of Apple by 21.1% in the 4th quarter. Callan Capital LLC now owns 137,730 shares of the iPhone maker’s stock worth $26,517,000 after buying an additional 24,003 shares in the last quarter. Kovack Advisors Inc. grew its position in Apple by 5.0% in the fourth quarter. Kovack Advisors Inc. now owns 195,259 shares of the iPhone maker’s stock valued at $37,593,000 after acquiring an additional 9,243 shares during the period. KFA Private Wealth Group LLC grew its position in Apple by 3.1% in the fourth quarter. KFA Private Wealth Group LLC now owns 27,656 shares of the iPhone maker’s stock valued at $5,325,000 after acquiring an additional 832 shares during the period. Alesco Advisors LLC raised its stake in Apple by 1.5% during the fourth quarter. Alesco Advisors LLC now owns 20,988 shares of the iPhone maker’s stock worth $4,041,000 after acquiring an additional 310 shares in the last quarter. Finally, Markel Group Inc. lifted its holdings in shares of Apple by 0.3% during the fourth quarter. Markel Group Inc. now owns 1,225,890 shares of the iPhone maker’s stock valued at $236,021,000 after acquiring an additional 4,000 shares during the period. 60.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Cfra increased their target price on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. TD Cowen boosted their target price on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Melius Research reaffirmed a “buy” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. Barclays reduced their price objective on Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Finally, KeyCorp restated a “hold” rating and issued a $247.61 target price on shares of Apple in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.76.

Apple Price Performance

NASDAQ:AAPL opened at $226.37 on Thursday. The stock has a market capitalization of $3.47 trillion, a PE ratio of 35.21, a P/E/G ratio of 2.66 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The firm has a fifty day simple moving average of $222.10 and a 200 day simple moving average of $201.22. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share 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 147.15%. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same period in the previous year, the business earned $1.26 EPS. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio is currently 15.55%.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is owned by insiders.

Apple 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.