Apple Inc. (NASDAQ:AAPL) is Sendero Wealth Management LLC’s 8th Largest Position

Sendero Wealth Management LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 2.0% in the 3rd quarter, Holdings Channel reports. The firm owned 63,999 shares of the iPhone maker’s stock after purchasing an additional 1,243 shares during the period. Apple accounts for about 2.3% of Sendero Wealth Management LLC’s investment portfolio, making the stock its 8th biggest holding. Sendero Wealth Management LLC’s holdings in Apple were worth $14,912,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hershey Financial Advisers LLC acquired a new position in Apple in the 2nd quarter valued at $42,000. Hoese & Co LLP increased its stake in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the period. Sage Financial Group Inc. acquired a new position in Apple in the 2nd quarter valued at $206,000. Benchmark Wealth Management LLC acquired a new position in Apple in the 2nd quarter valued at $208,000. Finally, SMH Capital Advisors Inc. acquired a new position in Apple in the 2nd quarter valued at $209,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Trading Down 0.1 %

Shares of AAPL stock opened at $234.93 on Friday. The firm has a market cap of $3.55 trillion, a P/E ratio of 38.64, a PEG ratio of 2.28 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-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 firm’s 50-day simple moving average is $228.83 and its 200-day simple moving average is $219.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 EPS. As a group, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is currently 16.45%.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 in the last three months. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AAPL. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Bank of America reaffirmed a “buy” rating and set a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Citigroup upped their price target on shares of Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Melius Research reaffirmed a “buy” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.