Code Waechter LLC Takes $1.93 Million Position in Apple Inc. (NASDAQ:AAPL)

Code Waechter LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,272 shares of the iPhone maker’s stock, valued at approximately $1,927,000. Apple makes up about 1.8% of Code Waechter LLC’s holdings, making the stock its 12th biggest position.

Other hedge funds also recently bought and sold shares of the company. Granite Investment Partners LLC lifted its stake in Apple by 2.7% during 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% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. EP Wealth Advisors LLC lifted its position in shares of Apple by 5.2% in the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after purchasing an additional 95,235 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Apple by 34.9% in the third 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 in the last quarter. Finally, Bellwether Advisors LLC lifted its position in shares of Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock worth $92,007,745 in the last ninety days. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research analyst reports. Wedbush reissued an “outperform” rating and issued a $300.00 price target on shares of Apple in a research report on Friday. Piper Sandler reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. New Street Research reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Finally, Maxim Group raised their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $235.68.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $237.33 on Friday. 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 fifty day moving average price is $229.02 and its two-hundred day moving average price is $219.81. Apple Inc. has a one year low of $164.07 and a one year high of $237.81. The firm has a market cap of $3.59 trillion, a price-to-earnings ratio of 39.03, a P/E/G ratio of 2.30 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the firm posted $1.46 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

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.