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Cahaba Wealth Management Inc. Acquires 1,364 Shares of Apple Inc. (NASDAQ:AAPL)

Cahaba Wealth Management Inc. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,954 shares of the iPhone maker’s stock after purchasing an additional 1,364 shares during the quarter. Apple comprises approximately 0.5% of Cahaba Wealth Management Inc.’s holdings, making the stock its 19th largest position. Cahaba Wealth Management Inc.’s holdings in Apple were worth $3,934,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bailey Value Limited Partnership bought a new stake in shares of Apple in the 4th quarter worth approximately $10,654,000. Qube Research & Technologies Ltd lifted its position in shares of Apple by 145.8% in the 4th quarter. Qube Research & Technologies Ltd now owns 643,206 shares of the iPhone maker’s stock worth $114,214,000 after acquiring an additional 381,507 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of Apple by 10.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 11,964,256 shares of the iPhone maker’s stock worth $2,124,493,000 after acquiring an additional 1,116,719 shares during the period. Phraction Management LLC bought a new stake in shares of Apple in the 4th quarter worth approximately $536,000. Finally, Executive Wealth Management LLC lifted its position in shares of Apple by 3.4% in the 4th quarter. Executive Wealth Management LLC now owns 221,382 shares of the iPhone maker’s stock worth $39,310,000 after acquiring an additional 7,292 shares during the period. Institutional investors own 57.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AAPL. Rosenblatt Securities cut their target price on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. The Goldman Sachs Group set a $139.00 target price on Apple in a research report on Friday, July 29th. Loop Capital cut their target price on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Itaú Unibanco began coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price for the company. Finally, KeyCorp raised their target price on Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.18.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $163.62 on Friday. The company has a market capitalization of $2.63 trillion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 2.16 and a beta of 1.23. The firm’s 50 day simple moving average is $154.62 and its 200 day simple moving average is $157.27. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. Apple’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company posted $1.30 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 6.1 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. Apple’s payout ratio is 15.18%.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Further Reading

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