Commonwealth Retirement Investments LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 16.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,521 shares of the iPhone maker's stock after buying an additional 1,592 shares during the quarter. Apple accounts for 1.1% of Commonwealth Retirement Investments LLC's investment portfolio, making the stock its 28th largest holding. Commonwealth Retirement Investments LLC's holdings in Apple were worth $2,684,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. High Net Worth Advisory Group LLC lifted its stake in shares of Apple by 1.7% in 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 purchasing an additional 1,066 shares during the period. Granite Investment Partners LLC increased its holdings in 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 buying an additional 7,606 shares in the last quarter. Truist Financial Corp lifted its position in shares of Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker's stock valued at $1,473,224,000 after acquiring an additional 126,210 shares during the period. Sterling Investment Counsel LLC increased its stake in Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker's stock valued at $16,269,000 after purchasing an additional 2,565 shares in the last quarter. Finally, Silicon Valley Capital Partners raised its holdings in Apple by 12.8% during the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker's stock worth $59,122,000 after purchasing an additional 28,799 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Stock Performance
AAPL stock traded up $1.72 on Monday, reaching $229.98. The company's stock had a trading volume of 68,239,505 shares, compared to its average volume of 41,481,172. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market capitalization of $3.48 trillion, a P/E ratio of 37.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The firm has a fifty day moving average of $241.01 and a two-hundred day moving average of $230.79.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts' expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 earnings per share. As a group, analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple's dividend payout ratio is currently 16.45%.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. Maxim Group raised their price target on Apple from $203.00 to $215.00 and gave the company a "hold" rating in a research report on Friday, November 1st. Evercore ISI reiterated a "buy" rating and set a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. UBS Group reiterated a "neutral" rating and issued a $236.00 price target on shares of Apple in a report on Monday, December 2nd. New Street Research reiterated a "neutral" rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Finally, Raymond James increased their price target on Apple to $250.00 and gave the company a "buy" rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $239.85.
Check Out Our Latest Report on Apple
Insider Activity
In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated 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 directly owns 15,419 shares of the company's stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company's stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.
Apple Profile
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Free Report)
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.
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