Cottonwood Capital Advisors LLC Has $2.21 Million Position in Apple Inc. (NASDAQ:AAPL)

Cottonwood Capital Advisors LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 7.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,802 shares of the iPhone maker’s stock after selling 1,009 shares during the period. Apple makes up about 1.7% of Cottonwood Capital Advisors LLC’s investment portfolio, making the stock its 18th largest holding. Cottonwood Capital Advisors LLC’s holdings in Apple were worth $2,211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in AAPL. Robertson Stephens Wealth Management LLC increased its position in shares of Apple by 2.0% during the third quarter. Robertson Stephens Wealth Management LLC now owns 427,007 shares of the iPhone maker’s stock worth $73,108,000 after acquiring an additional 8,332 shares in the last quarter. Alterna Wealth Management Inc. increased its position in shares of Apple by 3.8% during the third quarter. Alterna Wealth Management Inc. now owns 18,089 shares of the iPhone maker’s stock worth $3,097,000 after acquiring an additional 665 shares in the last quarter. Pearl River Capital LLC increased its position in shares of Apple by 146.7% during the third quarter. Pearl River Capital LLC now owns 37,455 shares of the iPhone maker’s stock worth $6,413,000 after acquiring an additional 22,270 shares in the last quarter. WestHill Financial Advisors Inc. increased its position in shares of Apple by 7.2% during the third quarter. WestHill Financial Advisors Inc. now owns 43,351 shares of the iPhone maker’s stock worth $7,422,000 after acquiring an additional 2,896 shares in the last quarter. Finally, Glenview Trust co increased its position in shares of Apple by 1.3% during the third quarter. Glenview Trust co now owns 1,042,483 shares of the iPhone maker’s stock worth $178,484,000 after acquiring an additional 13,080 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several recent research reports. Loop Capital reduced their target price on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a report on Monday, April 1st. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and increased their target price for the stock from $200.00 to $230.00 in a report on Tuesday, June 11th. Tigress Financial increased their target price on shares of Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 30th. Rosenblatt Securities upgraded shares of Apple from a “neutral” rating to a “buy” rating and increased their target price for the stock from $196.00 to $260.00 in a report on Wednesday, June 26th. Finally, Morgan Stanley restated an “overweight” rating and set a $216.00 target price on shares of Apple in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $215.71.

Check Out Our Latest Stock Analysis on Apple

Apple Price Performance

AAPL stock opened at $227.82 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $227.85. The firm has a market cap of $3.49 trillion, a P/E ratio of 35.43, a P/E/G ratio of 2.75 and a beta of 1.24. The company’s 50-day moving average price is $198.52 and its two-hundred day moving average price is $186.41.

Apple (NASDAQ:AAPLGet Free Report) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same period last year, the firm earned $1.52 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, analysts anticipate that Apple Inc. will post 6.59 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a $0.25 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Apple

In related news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Jeffrey E. Williams sold 59,162 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $84,378,155.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold a total of 192,355 shares of company stock valued at $34,771,329 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

Apple Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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