Apple Inc. (NASDAQ:AAPL) is Cyndeo Wealth Partners LLC’s 2nd Largest Position

Cyndeo Wealth Partners LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 36.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 174,698 shares of the iPhone maker’s stock after purchasing an additional 46,261 shares during the period. Apple makes up about 2.8% of Cyndeo Wealth Partners LLC’s holdings, making the stock its 2nd biggest position. Cyndeo Wealth Partners LLC’s holdings in Apple were worth $40,705,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. High Net Worth Advisory Group LLC increased its position 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 valued at $14,916,000 after buying an additional 1,066 shares during the period. Granite Investment Partners LLC raised its position in shares of Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after buying an additional 7,606 shares in the last quarter. Truist Financial Corp lifted its stake in 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 purchasing an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC lifted its position in Apple by 5.2% in the 2nd 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 during the last quarter. Finally, CHICAGO TRUST Co NA lifted its holdings in shares of Apple by 15.2% in the 3rd quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock worth $34,768,000 after acquiring an additional 19,670 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of several analyst reports. Citigroup increased their target price on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Friday. UBS Group restated a “neutral” rating and issued a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Bank of America lifted their price target on Apple to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Evercore ISI reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.78.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the 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 completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 0.1 %

Shares of NASDAQ:AAPL opened at $248.13 on Friday. The stock’s 50-day simple moving average is $232.50 and its two-hundred day simple moving average is $223.64. The stock has a market capitalization of $3.75 trillion, a price-to-earnings ratio of 40.81, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $250.80. 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 (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 analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. Analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

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

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.