Cedar Point Capital Partners LLC Buys 73 Shares of Apple Inc. (NASDAQ:AAPL)

Cedar Point Capital Partners LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% in the third quarter, Holdings Channel.com reports. The fund owned 6,749 shares of the iPhone maker’s stock after purchasing an additional 73 shares during the period. Apple comprises about 1.1% of Cedar Point Capital Partners LLC’s holdings, making the stock its 23rd biggest position. Cedar Point Capital Partners LLC’s holdings in Apple were worth $1,573,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. International Assets Investment Management LLC boosted its position in shares of Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Apple by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after acquiring an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after acquiring an additional 1,065,759 shares during the last quarter. Finally, Swedbank AB boosted its position in shares of Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after acquiring an additional 2,359,409 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AAPL. Citigroup upped their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Moffett Nathanson decreased their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 19th. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price target 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 price target for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Finally, KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $238.03.

Apple Stock Down 0.2 %

Shares of Apple stock opened at $243.36 on Monday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The firm’s 50-day moving average is $238.91 and its two-hundred day moving average is $229.08. The stock has a market cap of $3.68 trillion, a price-to-earnings ratio of 40.03, a PEG ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its 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. 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 analysts’ expectations of $94.52 billion. During the same period in the prior year, the business earned $1.46 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. 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 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.