Cedar Wealth Management LLC Purchases 385 Shares of Apple Inc. $AAPL

Cedar Wealth Management LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 5.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,130 shares of the iPhone maker’s stock after buying an additional 385 shares during the quarter. Apple comprises about 0.6% of Cedar Wealth Management LLC’s portfolio, making the stock its 20th largest holding. Cedar Wealth Management LLC’s holdings in Apple were worth $1,584,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AAPL. Life Planning Partners Inc bought a new position in Apple in the 4th quarter valued at about $47,000. Elite Financial Inc. bought a new position in Apple in the 1st quarter valued at about $58,000. Conquis Financial LLC bought a new position in Apple in the 4th quarter valued at about $63,000. LSV Asset Management bought a new position in Apple in the 4th quarter valued at about $65,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple in the 4th quarter valued at about $82,000. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on AAPL. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a report on Friday, July 25th. JPMorgan Chase & Co. lifted their price target on shares of Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Loop Capital decreased their price target on shares of Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a report on Thursday, August 21st. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 price target (up from $230.00) on shares of Apple in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.05.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 0.0%

Shares of NASDAQ AAPL opened at $239.69 on Friday. The company has a market capitalization of $3.56 trillion, a P/E ratio of 36.37, a price-to-earnings-growth ratio of 2.50 and a beta of 1.11. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company’s 50 day moving average price is $219.28 and its 200-day moving average price is $212.86.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.40 EPS. Equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is 15.78%.

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.