Cadinha & Co. LLC Increases Stock Position in Apple Inc. (NASDAQ:AAPL)

Cadinha & Co. LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,725 shares of the iPhone maker’s stock after acquiring an additional 117 shares during the period. Apple comprises approximately 0.9% of Cadinha & Co. LLC’s portfolio, making the stock its 25th largest position. Cadinha & Co. LLC’s holdings in Apple were worth $5,295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hershey Financial Advisers LLC purchased a new stake in shares of Apple in the second quarter valued at about $42,000. Hoese & Co LLP raised its holdings in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new stake in shares of Apple in the second quarter valued at about $206,000. Benchmark Wealth Management LLC purchased a new position in Apple during the second quarter worth about $208,000. Finally, SMH Capital Advisors Inc. purchased a new position in Apple during the second quarter worth about $209,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Down 0.1 %

Shares of Apple stock opened at $234.93 on Thursday. The stock has a market capitalization of $3.55 trillion, a P/E ratio of 38.64, a price-to-earnings-growth ratio of 2.28 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a 50-day simple moving average of $228.71 and a 200 day simple moving average of $219.12. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 EPS. Research analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Moffett Nathanson cut their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. The Goldman Sachs Group increased their price target on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Maxim Group increased their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Evercore ISI reissued a “buy” rating and set a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Finally, Loop Capital cut their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by insiders.

Apple 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.