Apple Inc. (NASDAQ:AAPL) Shares Sold by Cherrydale Wealth Management LLC

view original post

Cherrydale Wealth Management LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,943 shares of the iPhone maker’s stock after selling 252 shares during the period. Apple makes up approximately 4.1% of Cherrydale Wealth Management LLC’s holdings, making the stock its 8th largest position. Cherrydale Wealth Management LLC’s holdings in Apple were worth $4,504,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares in the last quarter. State Street Corp increased its holdings in Apple by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after buying an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC increased its holdings in Apple by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after buying an additional 4,456,954 shares in the last quarter. Norges Bank purchased a new position in Apple in the fourth quarter valued at about $25,228,507,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Apple by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock valued at $14,097,970,000 after buying an additional 1,155,915 shares in the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Insider Activity

In related news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Loop Capital dropped their target price on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Fundamental Research set a $177.07 target price on shares of Apple and gave the company a “buy” rating in a report on Thursday, August 4th. Wells Fargo & Company dropped their target price on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft set a $175.00 price target on shares of Apple in a research report on Monday, August 1st. Finally, Monness Crespi & Hardt started coverage on shares of Apple in a research report on Thursday, September 8th. They issued a “buy” rating and a $174.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $181.52.

Apple Stock Performance

Shares of AAPL stock opened at $150.70 on Friday. The company’s fifty day simple moving average is $159.65 and its 200-day simple moving average is $156.09. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The company has a market cap of $2.42 trillion, a PE ratio of 24.87, a P/E/G ratio of 1.97 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter last year, the firm posted $1.30 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 6.11 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio is presently 15.18%.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Read More

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.

Related Posts