Cassaday & Co Wealth Management LLC Has $44.28 Million Stake in Apple Inc. (NASDAQ:AAPL)

Cassaday & Co Wealth Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 190,035 shares of the iPhone maker’s stock after selling 5,736 shares during the period. Apple accounts for approximately 1.3% of Cassaday & Co Wealth Management LLC’s investment portfolio, making the stock its 14th biggest position. Cassaday & Co Wealth Management LLC’s holdings in Apple were worth $44,278,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. Bull Oak Capital LLC grew its position in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new position in Apple in the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc lifted its position in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the period. ARK Investment Management LLC acquired a new stake in shares of Apple during the 3rd quarter worth $110,000. Finally, Cordant Inc. grew its holdings in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on AAPL shares. UBS Group reiterated a “neutral” rating and set a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Jefferies Financial Group lowered Apple from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $211.84 to $200.75 in a research note on Tuesday, January 21st. Citigroup boosted their target price on Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on shares of Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Loop Capital downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $238.05.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The stock was 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 represents a 21.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $222.78 on Monday. The firm has a market cap of $3.35 trillion, a PE ratio of 36.64, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The business’s 50 day moving average price is $240.93 and its two-hundred day moving average price is $230.70. 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 (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the company posted $1.46 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company 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. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s payout ratio is 16.45%.

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.