Apple Inc. (NASDAQ:AAPL) Position Reduced by Chesapeake Wealth Management

Chesapeake Wealth Management decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 52,696 shares of the iPhone maker’s stock after selling 127 shares during the period. Apple makes up about 4.0% of Chesapeake Wealth Management’s investment portfolio, making the stock its 3rd largest position. Chesapeake Wealth Management’s holdings in Apple were worth $10,221,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC grew its position in Apple by 116,483.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after acquiring an additional 569,066,184 shares in the last quarter. Norges Bank acquired a new stake in Apple in the fourth quarter valued at approximately $21,746,940,000. Morgan Stanley grew its position in Apple by 14.2% in the fourth quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after acquiring an additional 25,926,552 shares in the last quarter. Berkshire Hathaway Inc grew its position in Apple by 2.3% in the first quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock valued at $150,975,907,000 after acquiring an additional 20,424,207 shares in the last quarter. Finally, Providence Capital Advisors LLC grew its position in Apple by 16,638.6% in the first quarter. Providence Capital Advisors LLC now owns 15,593,974 shares of the iPhone maker’s stock valued at $94,566,000 after acquiring an additional 15,500,812 shares in the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Apple Trading Up 0.9 %

Shares of AAPL opened at $191.45 on Tuesday. The business’s 50-day moving average price is $177.15 and its 200 day moving average price is $181.03. The stock has a market capitalization of $2.98 trillion, a P/E ratio of 31.28, a P/E/G ratio of 2.60 and a beta of 1.30. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $198.23. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 1.53.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.07. Apple had a return on equity of 160.78% and a net margin of 25.31%. The company had revenue of $89.50 billion for the quarter, compared to analysts’ expectations of $89.34 billion. During the same quarter in the previous year, the business posted $1.29 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. Analysts expect that Apple Inc. will post 6.56 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.96 annualized dividend and a dividend yield of 0.50%. Apple’s dividend payout ratio is 15.69%.

Analyst Ratings Changes

Several analysts have issued reports on AAPL shares. TD Cowen increased their price objective on shares of Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Rosenblatt Securities decreased their price target on shares of Apple from $198.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. Oppenheimer decreased their price target on shares of Apple from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, October 30th. StockNews.com started coverage on shares of Apple in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Robert W. Baird raised their price target on shares of Apple from $180.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $198.25.

Insider Activity

In related news, insider Chris Kondo sold 4,806 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $184.04, for a total value of $884,496.24. Following the completion of the sale, the insider now directly owns 34,687 shares in the company, valued at approximately $6,383,795.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Deirdre O’brien sold 65,536 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total value of $11,279,400.96. Following the completion of the sale, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $23,483,548.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,806 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $184.04, for a total value of $884,496.24. Following the completion of the sale, the insider now owns 34,687 shares of the company’s stock, valued at $6,383,795.48. The disclosure for this sale can be found here. Insiders sold a total of 567,839 shares of company stock worth $100,675,794 in the last three months. 0.06% of the stock is owned by insiders.

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.