CFM Wealth Partners LLC Acquires 1,518 Shares of Apple Inc. (NASDAQ:AAPL)

CFM Wealth Partners LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 301,254 shares of the iPhone maker’s stock after buying an additional 1,518 shares during the quarter. Apple accounts for approximately 14.5% of CFM Wealth Partners LLC’s investment portfolio, making the stock its biggest holding. CFM Wealth Partners LLC’s holdings in Apple were worth $70,192,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC purchased a new stake in Apple in the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc increased its stake in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. Hoese & Co LLP raised its holdings in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new position in Apple in the 2nd quarter valued at about $206,000. Finally, Benchmark Wealth Management LLC purchased a new stake in Apple during the 2nd quarter valued at approximately $208,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity

In related news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock valued at $92,007,745 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AAPL has been the topic of several analyst reports. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and lifted their target price for the company from $205.00 to $212.92 in a research note on Monday, October 7th. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research note on Friday, October 25th. Piper Sandler restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Finally, Barclays reduced their price objective on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.68.

Apple Stock Down 0.1 %

Shares of NASDAQ AAPL opened at $242.84 on Friday. The firm has a market cap of $3.67 trillion, a P/E ratio of 39.94, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23. 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 1 year low of $164.07 and a 1 year high of $244.63. The firm’s 50 day moving average price is $230.23 and its 200 day moving average price is $221.05.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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 business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) 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.