Apple Inc. (NASDAQ:AAPL) is Chemistry Wealth Management LLC's 3rd Largest Position

Chemistry Wealth Management LLC cut its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 140,268 shares of the iPhone maker's stock after selling 9,171 shares during the period. Apple makes up 7.7% of Chemistry Wealth Management LLC's holdings, making the stock its 3rd largest position. Chemistry Wealth Management LLC's holdings in Apple were worth $32,682,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Diversified Trust Co increased its holdings in Apple by 11.6% in the third quarter. Diversified Trust Co now owns 605,036 shares of the iPhone maker's stock valued at $140,974,000 after buying an additional 62,907 shares in the last quarter. GAMMA Investing LLC raised its holdings in Apple by 34.9% in the 3rd quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker's stock worth $46,650,000 after purchasing an additional 51,842 shares during the period. First International Bank & Trust boosted its position in Apple by 8.0% during the third quarter. First International Bank & Trust now owns 6,215 shares of the iPhone maker's stock worth $1,448,000 after purchasing an additional 458 shares in the last quarter. waypoint wealth counsel increased its position in shares of Apple by 4.7% in the third quarter. waypoint wealth counsel now owns 29,507 shares of the iPhone maker's stock valued at $6,875,000 after buying an additional 1,317 shares in the last quarter. Finally, Wright Investors Service Inc. raised its stake in shares of Apple by 7.2% during the 3rd quarter. Wright Investors Service Inc. now owns 87,347 shares of the iPhone maker's stock worth $20,352,000 after buying an additional 5,841 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 0.6 %

Shares of AAPL stock traded up $1.35 during trading on Friday, reaching $229.87. The company's stock had a trading volume of 38,168,252 shares, compared to its average volume of 43,855,068. The company has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. 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 stock's 50-day moving average price is $227.73 and its 200 day moving average price is $218.06.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 earnings per share. On average, research analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple's dividend payout ratio (DPR) is 16.45%.

Analysts Set New Price Targets

AAPL has been the topic of several research analyst reports. The Goldman Sachs Group lifted their target price on shares of Apple from $265.00 to $275.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. KeyCorp cut Apple from a "sector weight" rating to an "underweight" rating and set a $200.00 target price for the company. in a report on Friday, October 25th. StockNews.com lowered Apple from a "buy" rating to a "hold" rating in a research note on Friday, November 1st. Citigroup boosted their price target on shares of Apple to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler reissued a "neutral" rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $235.25.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of the company's 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 completion of the transaction, the insider now directly owns 15,419 shares of the company's stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 in the last quarter. Corporate insiders own 0.06% of the company's stock.

About Apple

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.