Apple Inc. (NASDAQ:AAPL) is Cornerstone Advisory LLC’s 3rd Largest Position

Cornerstone Advisory LLC grew its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 199,042 shares of the iPhone maker’s stock after purchasing an additional 1,250 shares during the period. Apple makes up about 5.3% of Cornerstone Advisory LLC’s holdings, making the stock its 3rd largest holding. Cornerstone Advisory LLC’s holdings in Apple were worth $34,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Cardinal Capital Management Inc. lifted its holdings in Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after acquiring an additional 221 shares during the last quarter. Shore Point Advisors LLC acquired a new position in Apple in the fourth quarter valued at approximately $41,000. HBC Financial Services PLLC lifted its stake in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares in the last quarter. Emerson Wealth LLC lifted its stake in Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares in the last quarter. Finally, Econ Financial Services Corp lifted its stake in Apple by 29.1% during the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after purchasing an additional 95 shares in the last quarter. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

AAPL stock opened at $155.31 on Thursday. The firm has a 50 day moving average of $159.21 and a 200-day moving average of $156.27. Apple Inc. has a 12-month low of $129.04 and a 12-month 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 $2.50 trillion, a price-to-earnings ratio of 25.63, a PEG ratio of 2.03 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (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 company had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same period last year, the firm earned $1.30 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.59%. Apple’s dividend payout ratio (DPR) is 15.18%.

Analyst Ratings Changes

A number of research analysts have commented on the company. set a $175.00 price target on Apple in a research note on Friday, July 29th. KeyCorp upped their price target on Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, August 19th. Sanford C. Bernstein set a $170.00 price target on Apple in a research note on Monday. Bank of America reduced their price objective on Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Finally, Itaú Unibanco assumed coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.52.

Insider Transactions at Apple

In other Apple news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the business’s 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 directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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