Cedar Point Capital Partners LLC Purchases 56 Shares of Apple Inc. (NASDAQ:AAPL)

Cedar Point Capital Partners LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,805 shares of the iPhone maker’s stock after purchasing an additional 56 shares during the period. Apple makes up approximately 1.2% of Cedar Point Capital Partners LLC’s holdings, making the stock its 22nd largest holding. Cedar Point Capital Partners LLC’s holdings in Apple were worth $1,704,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Bull Oak Capital LLC boosted its holdings in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new stake in Apple during the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc lifted its position in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new position in shares of Apple in the third quarter worth $71,000. Finally, Teachers Insurance & Annuity Association of America bought a new position in shares of Apple in the third quarter worth $77,000. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by insiders.

Apple Stock Up 1.8 %

Shares of NASDAQ:AAPL opened at $213.49 on Friday. The stock has a market capitalization of $3.21 trillion, a P/E ratio of 33.89, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The stock’s 50-day moving average price is $234.52 and its 200-day moving average price is $233.73. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is 15.87%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays increased their price objective on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Bank of America upped their price target on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Evercore ISI raised their price objective on shares of Apple to $260.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a report on Tuesday, January 21st. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a report on Wednesday, February 19th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $243.22.

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.