CCG Wealth Management LLC Has $3.20 Million Stake in Apple Inc. (NASDAQ:AAPL)

CCG Wealth Management LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% during the third quarter, HoldingsChannel.com reports. The firm owned 13,734 shares of the iPhone maker’s stock after selling 50 shares during the quarter. Apple makes up about 1.8% of CCG Wealth Management LLC’s holdings, making the stock its 13th biggest holding. CCG Wealth Management LLC’s holdings in Apple were worth $3,200,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bourne Lent Asset Management Inc. increased its position in shares of Apple by 0.3% in the third quarter. Bourne Lent Asset Management Inc. now owns 136,444 shares of the iPhone maker’s stock worth $31,791,000 after purchasing an additional 430 shares during the period. Acorn Creek Capital LLC grew its stake in Apple by 4.7% during the third quarter. Acorn Creek Capital LLC now owns 18,024 shares of the iPhone maker’s stock worth $4,200,000 after buying an additional 804 shares in the last quarter. EdgeRock Capital LLC bought a new position in Apple in the 3rd quarter valued at about $6,297,000. ERn Financial LLC raised its position in shares of Apple by 2.9% in the 3rd quarter. ERn Financial LLC now owns 42,986 shares of the iPhone maker’s stock valued at $10,016,000 after buying an additional 1,220 shares in the last quarter. Finally, Brady Family Wealth LLC lifted its holdings in shares of Apple by 1.1% during the 3rd quarter. Brady Family Wealth LLC now owns 113,124 shares of the iPhone maker’s stock worth $26,358,000 after acquiring an additional 1,177 shares during the period. 60.41% of the stock is owned by institutional investors.

Apple Trading Up 1.3 %

NASDAQ AAPL opened at $232.87 on Tuesday. Apple Inc. has a one year low of $164.07 and a one 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 business has a 50 day simple moving average of $228.06 and a 200 day simple moving average of $218.64. The stock has a market capitalization of $3.52 trillion, a P/E ratio of 38.30, a P/E/G ratio of 2.25 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the firm posted $1.46 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts expect that Apple Inc. will post 7.43 earnings per share 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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Activity

In related 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 directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AAPL shares. Bank of America reissued a “buy” rating and issued a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Melius Research reissued a “buy” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. New Street Research restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Finally, TD Cowen lifted their price target on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

Apple 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.