Cabot Wealth Management Inc. Has $37.13 Million Stake in Apple Inc. (NASDAQ:AAPL)

Cabot Wealth Management Inc. decreased its position in Apple Inc. (NASDAQ:AAPL) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 159,352 shares of the iPhone maker’s stock after selling 2,363 shares during the quarter. Apple comprises 4.6% of Cabot Wealth Management Inc.’s investment portfolio, making the stock its largest holding. Cabot Wealth Management Inc.’s holdings in Apple were worth $37,129,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC bought a new stake in shares of Apple during the second quarter worth approximately $42,000. Christopher J. Hasenberg Inc grew its holdings in 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 acquiring an additional 144 shares during the period. Hoese & Co LLP raised its position in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new position in shares of Apple in the 2nd quarter valued at $206,000. Finally, Benchmark Wealth Management LLC bought a new position in shares of Apple in the 2nd quarter worth $208,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The transaction 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 59,730 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Moffett Nathanson dropped their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Monday, November 25th. Oppenheimer reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and upped their target price for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Finally, Maxim Group increased their target price on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $235.68.

Apple Trading Up 0.0 %

Shares of Apple stock opened at $243.04 on Friday. The stock has a market cap of $3.67 trillion, a P/E ratio of 39.97, a P/E/G ratio of 2.38 and a beta of 1.23. 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 12-month low of $164.07 and a 12-month high of $244.54. The business’s 50 day moving average is $230.23 and its 200-day moving average is $221.05.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 earnings per share. Equities research analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s 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.