Nicholson Wealth Management Group LLC Takes Position in Apple Inc. (NASDAQ:AAPL)

Nicholson Wealth Management Group LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL) during the 3rd quarter, Holdings Channel.com reports. The fund bought 8,582 shares of the iPhone maker’s stock, valued at approximately $2,000,000. Apple accounts for 1.6% of Nicholson Wealth Management Group LLC’s holdings, making the stock its 10th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Carolina Wealth Advisors LLC boosted its holdings in shares of Apple by 1.3% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after buying an additional 46 shares during the last quarter. Verus Financial Partners Inc. increased its position in shares of Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after buying an additional 48 shares during the period. Brown Financial Advisory boosted its stake in Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 50 shares in the last quarter. Core Wealth Management Inc. increased its position in shares of Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after acquiring an additional 50 shares in the last quarter. Finally, Lowery Thomas LLC grew its holdings in shares of Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after acquiring an additional 50 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AAPL has been the topic of a number of research analyst reports. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Moffett Nathanson lowered their target price on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 19th. UBS Group reissued a “neutral” rating and issued a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. New Street Research reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $236.78.

Apple Trading Up 0.3 %

Shares of NASDAQ AAPL opened at $255.27 on Tuesday. The company has a market cap of $3.86 trillion, a price-to-earnings ratio of 41.99, a P/E/G ratio of 2.41 and a beta of 1.23. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $255.65. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The business has a fifty day simple moving average of $234.97 and a 200-day simple moving average of $225.91.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. Sell-side analysts predict 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 $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Apple’s dividend payout ratio is 16.45%.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction 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 sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 508,170 shares of company stock worth $117,004,745 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

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.