Cim LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,470 shares of the iPhone maker’s stock after selling 543 shares during the period. Apple accounts for 4.0% of Cim LLC’s portfolio, making the stock its biggest holding. Cim LLC’s holdings in Apple were worth $19,478,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Joseph Group Capital Management bought a new position in shares of Apple during the 4th quarter worth $1,631,000. Cardinal Capital Management Inc. grew its position in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares in the last quarter. Shore Point Advisors LLC bought a new position in shares of Apple during the 4th quarter worth $41,000. Spence Asset Management bought a new position in shares of Apple during the 2nd quarter worth $49,000. Finally, Emerson Wealth LLC grew its position in shares of Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after buying an additional 320 shares in the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.
Apple Stock Performance
NASDAQ AAPL opened at $153.72 on Thursday. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The stock’s fifty day moving average is $160.23 and its two-hundred day moving average is $155.88. The firm has a market capitalization of $2.47 trillion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 2.00 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. Apple’s dividend payout ratio is presently 15.18%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on AAPL. Loop Capital decreased their price objective on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Wells Fargo & Company decreased their price target on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. UBS Group set a $185.00 price target on Apple in a research note on Wednesday, September 14th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $139.00 price target on shares of Apple in a research note on Thursday, September 8th. Finally, Barclays set a $169.00 price target on Apple in a research note on Wednesday, September 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $181.68.
Insider Activity at Apple
In other Apple news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The sale 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 company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value 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 $19,362,241.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
Apple Company Profile
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.
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