Cyndeo Wealth Partners LLC Has $40.71 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Cyndeo Wealth Partners LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 36.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 174,698 shares of the iPhone maker’s stock after purchasing an additional 46,261 shares during the period. Apple accounts for 2.8% of Cyndeo Wealth Partners LLC’s portfolio, making the stock its 2nd largest holding. Cyndeo Wealth Partners LLC’s holdings in Apple were worth $40,705,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of AAPL. High Net Worth Advisory Group LLC increased its stake in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after acquiring an additional 1,066 shares during the period. Granite Investment Partners LLC raised its stake in shares of Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after purchasing an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Apple by 5.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after acquiring an additional 95,235 shares during the last quarter. Finally, CHICAGO TRUST Co NA increased its holdings in shares of Apple by 15.2% in the third quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock valued at $34,768,000 after purchasing an additional 19,670 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $248.13 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $250.80. The company has a 50 day simple moving average of $232.50 and a two-hundred day simple moving average of $223.64. The company has a market capitalization of $3.75 trillion, a PE ratio of 40.81, a P/E/G ratio of 2.41 and a beta of 1.23.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Analyst Ratings Changes

A number of analysts recently commented on AAPL shares. Wedbush reiterated an “outperform” rating and issued a $300.00 price objective on shares of Apple in a research report on Friday, November 29th. Oppenheimer reiterated a “buy” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Bank of America upped their price target on shares of Apple to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Rosenblatt Securities lifted their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Moffett Nathanson reduced their price objective on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $236.78.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 408,170 shares of company stock worth $92,007,745. Corporate insiders own 0.06% of the company’s stock.

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.