Cypress Point Wealth Management LLC Has $1.36 Million Holdings in Apple Inc. $AAPL

Cypress Point Wealth Management LLC decreased its holdings in Apple Inc. (NASDAQ:AAPLFree Report) by 27.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,357 shares of the iPhone maker’s stock after selling 2,075 shares during the quarter. Cypress Point Wealth Management LLC’s holdings in Apple were worth $1,364,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Baker Boyer National Bank grew its stake in shares of Apple by 0.3% in the 2nd quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock worth $3,695,000 after acquiring an additional 47 shares in the last quarter. Beddow Capital Management Inc. boosted its holdings in Apple by 1.8% during the second quarter. Beddow Capital Management Inc. now owns 2,597 shares of the iPhone maker’s stock worth $533,000 after purchasing an additional 47 shares during the last quarter. Red Tortoise LLC grew its position in Apple by 0.9% in the 2nd quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock worth $1,173,000 after purchasing an additional 49 shares in the last quarter. SigFig Wealth Management LLC increased its stake in Apple by 2.8% in the 2nd quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after buying an additional 50 shares during the last quarter. Finally, Shariaportfolio Inc. lifted its position in shares of Apple by 1.3% during the 2nd quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock worth $820,000 after buying an additional 50 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Apple News Summary

Here are the key news stories impacting Apple this week:

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AAPL shares. UBS Group reaffirmed a “neutral” rating on shares of Apple in a report on Monday, December 8th. Bank of America upped their price objective on Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Phillip Securities cut Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price on the stock. in a research note on Thursday, September 11th. Seaport Res Ptn raised shares of Apple to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Melius increased their price target on shares of Apple from $290.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $283.92.

Read Our Latest Stock Report on AAPL

Apple Stock Performance

Shares of AAPL stock opened at $273.67 on Monday. The firm’s 50 day moving average is $270.16 and its 200 day moving average is $239.82. The stock has a market capitalization of $4.04 trillion, a P/E ratio of 36.64, a PEG ratio of 2.56 and a beta of 1.10. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $288.62. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 26.92% and a return on equity of 164.05%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.64 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio is 13.92%.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares in the company, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 228,052 shares of company stock worth $58,604,588 over the last quarter. Insiders own 0.06% of the company’s stock.

About Apple

(Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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