Cedar Wealth Management LLC Has $1.58 Million Stake in Apple Inc. $AAPL

Cedar Wealth Management LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,130 shares of the iPhone maker’s stock after purchasing an additional 385 shares during the quarter. Apple makes up about 0.6% of Cedar Wealth Management LLC’s investment portfolio, making the stock its 20th biggest holding. Cedar Wealth Management LLC’s holdings in Apple were worth $1,584,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AAPL. Norges Bank acquired a new position in Apple during the fourth quarter worth $46,868,648,000. GAMMA Investing LLC boosted its holdings in Apple by 25,934.1% during the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after purchasing an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares during the last quarter. Northern Trust Corp boosted its holdings in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after purchasing an additional 13,137,968 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several recent research reports. Morgan Stanley set a $240.00 target price on shares of Apple and gave the stock an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Raymond James Financial reissued an “outperform” rating and issued a $240.00 price objective (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Loop Capital decreased their price objective on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research report on Thursday, August 21st. Finally, Citigroup lifted their price objective on shares of Apple from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $239.05.

Apple Stock Performance

NASDAQ AAPL opened at $239.69 on Friday. The firm has a 50-day moving average of $219.28 and a 200-day moving average of $212.86. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market cap of $3.56 trillion, a PE ratio of 36.37, a P/E/G ratio of 2.50 and a beta of 1.11. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period last year, the firm earned $1.40 earnings per share. Apple’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is currently 15.78%.

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.