Cushing Capital Partners LLC Has $1.85 Million Holdings in Apple Inc. $AAPL

Cushing Capital Partners LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 2.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,035 shares of the iPhone maker’s stock after selling 238 shares during the quarter. Apple accounts for about 1.6% of Cushing Capital Partners LLC’s portfolio, making the stock its 20th largest holding. Cushing Capital Partners LLC’s holdings in Apple were worth $1,854,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AAPL. Ryan Investment Management Inc. acquired a new position in Apple in the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC raised its stake in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Nexus Investment Management ULC raised its stake in Apple by 333.3% in the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after purchasing an additional 200 shares in the last quarter. Elite Financial Inc. bought a new stake in Apple during the first quarter worth about $58,000. Finally, LSV Asset Management acquired a new stake in Apple during the fourth quarter worth about $65,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $272.95 on Friday. The stock has a market cap of $4.03 trillion, a price-to-earnings ratio of 41.42, a P/E/G ratio of 2.62 and a beta of 1.08. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $277.32. The company’s fifty day moving average is $255.27 and its 200 day moving average is $226.41. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. During the same period in the previous year, the business earned $1.64 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were issued a $0.26 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio is presently 13.92%.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 228,052 shares of company stock valued at $58,604,588 over the last three months. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AAPL shares. Rosenblatt Securities boosted their target price on shares of Apple from $241.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Raymond James Financial restated an “outperform” rating and set a $240.00 price objective (up from $230.00) on shares of Apple in a research report on Friday, August 1st. DZ Bank raised Apple from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Tuesday, November 4th. Monness Crespi & Hardt lifted their price target on Apple from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Phillip Securities downgraded Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective for the company. in a research report on Thursday, September 11th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $278.22.

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.