Apple Inc. (NASDAQ:AAPL) Shares Sold by Cardinal Strategic Wealth Guidance

Cardinal Strategic Wealth Guidance trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,685 shares of the iPhone maker’s stock after selling 106 shares during the quarter. Apple accounts for about 1.4% of Cardinal Strategic Wealth Guidance’s investment portfolio, making the stock its 14th biggest position. Cardinal Strategic Wealth Guidance’s holdings in Apple were worth $3,601,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Headinvest LLC boosted its stake in Apple by 1.7% during the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after acquiring an additional 872 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Apple by 16.1% during the fourth quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock worth $14,461,000 after purchasing an additional 10,425 shares during the period. DNB Asset Management AS boosted its holdings in shares of Apple by 6.9% in the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock valued at $829,240,000 after buying an additional 279,311 shares during the period. Boltwood Capital Management grew its position in shares of Apple by 2.8% during the 4th quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker’s stock valued at $7,158,000 after buying an additional 1,021 shares during the last quarter. Finally, NewEdge Wealth LLC raised its stake in Apple by 16.2% during the fourth quarter. NewEdge Wealth LLC now owns 808,709 shares of the iPhone maker’s stock worth $155,701,000 after acquiring an additional 112,980 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AAPL. Loop Capital dropped their price target on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Piper Sandler dropped their price objective on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Sanford C. Bernstein raised shares of Apple from a “market perform” rating to an “outperform” rating and set a $195.00 target price for the company in a research note on Monday, April 29th. Monness Crespi & Hardt raised their price target on shares of Apple from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Oppenheimer reiterated an “outperform” rating and set a $200.00 price objective on shares of Apple in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $204.11.

View Our Latest Analysis on Apple

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the sale, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at $18,768,046.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 366,271 shares of company stock worth $63,653,887. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 0.6 %

Shares of Apple stock opened at $187.43 on Wednesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $199.62. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The stock has a 50 day moving average price of $172.57 and a two-hundred day moving average price of $182.15. The stock has a market capitalization of $2.87 trillion, a P/E ratio of 29.15, a PEG ratio of 2.20 and a beta of 1.26.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. During the same period in the previous year, the company earned $1.52 earnings per share. Apple’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 6.57 earnings per share for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 13th will be given a $0.25 dividend. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Friday, May 10th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Apple declared that its board has approved a share repurchase program on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

About Apple

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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