Cyndeo Wealth Partners LLC Has $44.53 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Cyndeo Wealth Partners LLC raised its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 200,475 shares of the iPhone maker's stock after acquiring an additional 18,103 shares during the period. Apple comprises 2.9% of Cyndeo Wealth Partners LLC's holdings, making the stock its 2nd biggest holding. Cyndeo Wealth Partners LLC's holdings in Apple were worth $44,532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Burkett Financial Services LLC grew its holdings in shares of Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after purchasing an additional 93 shares during the last quarter. OneAscent Wealth Management LLC grew its holdings in shares of Apple by 4.6% during the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after purchasing an additional 409 shares during the last quarter. TruWealth Advisors LLC grew its holdings in shares of Apple by 2.8% during the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock worth $42,045,000 after purchasing an additional 5,120 shares during the last quarter. Allstate Corp grew its holdings in shares of Apple by 3,368.2% during the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock worth $113,062,000 after purchasing an additional 438,471 shares during the last quarter. Finally, Vinva Investment Management Ltd grew its holdings in shares of Apple by 12.4% during the fourth quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock worth $192,700,000 after purchasing an additional 83,997 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The sale 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.

Analysts Set New Price Targets

Several research firms have recently weighed in on AAPL. Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Tuesday, June 10th. Bank of America reiterated a "buy" rating and issued a $235.00 target price on shares of Apple in a report on Tuesday, June 10th. Wedbush reiterated an "outperform" rating and issued a $270.00 target price on shares of Apple in a report on Wednesday, July 9th. Tigress Financial upped their target price on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a report on Thursday, April 3rd. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Apple in a report on Friday, June 13th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average price target of $235.11.

Apple Stock Down 0.2%

Shares of NASDAQ:AAPL traded down $0.39 during trading on Thursday, reaching $213.76. 45,923,891 shares of the stock were exchanged, compared to its average volume of 49,703,220. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The stock has a fifty day moving average of $204.71 and a two-hundred day moving average of $214.96. The firm has a market cap of $3.19 trillion, a price-to-earnings ratio of 33.30, a price-to-earnings-growth ratio of 2.39 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same period in the prior year, the firm earned $1.53 earnings per share. Apple's revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has initiated a stock buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is presently 16.20%.

Apple Company 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.