Cadent Capital Advisors LLC Has $9.59 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Cadent Capital Advisors LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 7.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,147 shares of the iPhone maker’s stock after acquiring an additional 2,962 shares during the quarter. Apple accounts for about 2.9% of Cadent Capital Advisors LLC’s investment portfolio, making the stock its 9th largest holding. Cadent Capital Advisors LLC’s holdings in Apple were worth $9,587,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. High Net Worth Advisory Group LLC grew its holdings in shares of Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after buying an additional 1,066 shares in the last quarter. Granite Investment Partners LLC grew its holdings in shares of Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after buying an additional 126,210 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after buying an additional 95,235 shares in the last quarter. Finally, CHICAGO TRUST Co NA grew its stake in Apple by 15.2% in the third quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock valued at $34,768,000 after purchasing an additional 19,670 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AAPL shares. Evercore ISI restated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Wells Fargo & Company raised their price target on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research note on Friday, October 25th. Finally, Bank of America raised their price target on Apple to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction 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 sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 408,170 shares of company stock worth $92,007,745. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $248.13 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $250.80. The stock’s fifty day moving average price is $232.50 and its two-hundred day moving average price is $223.41. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $3.75 trillion, a PE ratio of 40.81, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. Apple’s payout ratio is 16.45%.

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.