Rede Wealth LLC Increases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Rede Wealth LLC increased its holdings in Apple Inc. (NASDAQ:AAPL) by 2.0% in the 3rd quarter, Holdings Channel reports. The fund owned 50,407 shares of the iPhone maker’s stock after buying an additional 973 shares during the quarter. Apple accounts for about 4.5% of Rede Wealth LLC’s investment portfolio, making the stock its 2nd biggest position. Rede Wealth LLC’s holdings in Apple were worth $11,745,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AAPL. West Branch Capital LLC increased its position in Apple by 0.4% during the 3rd quarter. West Branch Capital LLC now owns 152,742 shares of the iPhone maker’s stock valued at $35,589,000 after buying an additional 598 shares in the last quarter. Cyndeo Wealth Partners LLC grew its stake in shares of Apple by 36.0% in the third quarter. Cyndeo Wealth Partners LLC now owns 174,698 shares of the iPhone maker’s stock worth $40,705,000 after acquiring an additional 46,261 shares during the last quarter. Pure Portfolios Holdings LLC bought a new position in shares of Apple during the third quarter valued at $6,392,000. Bernardo Wealth Planning LLC raised its position in shares of Apple by 2.9% in the 3rd quarter. Bernardo Wealth Planning LLC now owns 40,825 shares of the iPhone maker’s stock worth $9,477,000 after purchasing an additional 1,137 shares during the last quarter. Finally, Madison Park Capital Advisors LLC grew its position in Apple by 107.4% during the 3rd quarter. Madison Park Capital Advisors LLC now owns 26,999 shares of the iPhone maker’s stock valued at $6,291,000 after purchasing an additional 13,982 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Loop Capital decreased their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Morgan Stanley reiterated an “overweight” rating and set a $273.00 target price on shares of Apple in a research note on Friday. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research note on Friday, October 25th. Wedbush reiterated an “outperform” rating and issued a $300.00 price objective on shares of Apple in a report on Friday, November 29th. Finally, Monness Crespi & Hardt restated a “buy” rating and set a $245.00 target price on shares of Apple in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $236.78.

Insider Activity

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Trading Up 0.1 %

Apple stock opened at $248.13 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 firm’s 50 day moving average price is $232.50 and its 200-day moving average price is $223.64. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $250.80. The stock has a market cap of $3.75 trillion, a P/E ratio of 40.81, a PEG ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for 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%. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.46 EPS. On average, equities analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

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.