Apple Inc. (NASDAQ:AAPL) Shares Purchased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 240,458 shares of the iPhone maker’s stock after purchasing an additional 7,793 shares during the quarter. Apple accounts for approximately 4.9% of Cornerstone Wealth Group LLC’s investment portfolio, making the stock its 4th biggest holding. Cornerstone Wealth Group LLC’s holdings in Apple were worth $60,215,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. State Street Corp boosted its position in Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the period. FMR LLC grew its stake in Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC raised its holdings in Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after acquiring an additional 20,483,787 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Apple by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after acquiring an additional 5,893,741 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings 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 period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on AAPL shares. Wells Fargo & Company boosted their price target on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. boosted their target price on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Morgan Stanley cut their price objective on shares of Apple from $275.00 to $252.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Finally, Loop Capital downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research report on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Price Performance

Shares of Apple stock opened at $214.10 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The stock has a market cap of $3.22 trillion, a price-to-earnings ratio of 33.98, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The stock has a 50 day moving average price of $232.19 and a 200-day moving average price of $233.33.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

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.