Cherrydale Wealth Management LLC Has $4.50 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

ETFS

Cherrydale Wealth Management LLC lowered its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 32,943 shares of the iPhone maker’s stock after selling 252 shares during the period. Apple accounts for approximately 4.1% of Cherrydale Wealth Management LLC’s holdings, making the stock its 8th biggest holding. Cherrydale Wealth Management LLC’s holdings in Apple were worth $4,504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AAPL. Donald L. Hagan LLC raised its position in shares of Apple by 0.3% in the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after acquiring an additional 61 shares during the period. Goodwin Daniel L raised its holdings in Apple by 0.5% during the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after buying an additional 62 shares during the period. Opus Capital Group LLC raised its holdings in Apple by 0.3% during the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after buying an additional 63 shares during the period. Norwood Financial Corp raised its holdings in Apple by 0.9% during the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after buying an additional 65 shares during the period. Finally, Investors Research Corp raised its holdings in Apple by 0.4% during the 1st quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock worth $2,814,000 after buying an additional 66 shares during the period. Institutional investors own 57.72% of the company’s stock.


Insider Activity at Apple

In related news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

NASDAQ:AAPL opened at $150.70 on Friday. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The company has a market cap of $2.42 trillion, a P/E ratio of 24.87, a P/E/G ratio of 1.97 and a beta of 1.23. The firm’s fifty day moving average price is $159.65 and its two-hundred day moving average price is $156.09. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same period in the previous year, the company earned $1.30 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 6.11 earnings per share for the current year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on AAPL. Bank of America dropped their target price on shares of Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a report on Monday, September 12th. Rosenblatt Securities dropped their target price on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. Barclays set a $169.00 target price on shares of Apple in a report on Wednesday. Finally, Fundamental Research set a $177.07 price objective on shares of Apple and gave the stock a “buy” rating in a research report on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $181.52.

Apple Profile

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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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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