Cassia Capital Partners LLC Has $2.05 Million Holdings in Apple Inc. $AAPL

Cassia Capital Partners LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,997 shares of the iPhone maker’s stock after selling 95 shares during the quarter. Apple accounts for approximately 1.2% of Cassia Capital Partners LLC’s holdings, making the stock its 14th biggest position. Cassia Capital Partners LLC’s holdings in Apple were worth $2,051,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AAPL. Kingstone Capital Partners Texas LLC raised its stake in Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after purchasing an additional 205,656,808 shares during the last quarter. Nuveen LLC acquired a new position in Apple during the 1st quarter valued at $17,472,482,000. GAMMA Investing LLC raised its stake in shares of Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock valued at $133,425,490,000 after buying an additional 59,835,676 shares in the last quarter. Northern Trust Corp raised its stake in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. Finally, Amundi raised its stake in shares of Apple by 27.4% in the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock valued at $13,870,795,000 after buying an additional 14,651,321 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AAPL shares. Evercore ISI set a $290.00 price objective on shares of Apple and gave the company an “outperform” rating in a research note on Friday, September 26th. Tigress Financial increased their price objective on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. JPMorgan Chase & Co. increased their price objective on shares of Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Moffett Nathanson upgraded shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a research note on Thursday, September 4th. Finally, Phillip Securities cut shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective for the company. in a research note on Thursday, September 11th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $247.49.

Apple Stock Down 0.1%

Shares of NASDAQ:AAPL opened at $256.48 on Wednesday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company’s 50-day moving average price is $234.84 and its two-hundred day moving average price is $215.25. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The firm has a market cap of $3.81 trillion, a P/E ratio of 38.92, a P/E/G ratio of 2.50 and a beta of 1.09.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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 firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The company’s revenue was up 9.6% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

Insider Activity

In other news, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,922 shares of company stock valued at $64,320,190. 0.06% of the stock is currently owned by insiders.

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.