Cigna Investments Inc. New Has $35.42 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Cigna Investments Inc. New decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 182,593 shares of the iPhone maker’s stock after selling 1,500 shares during the quarter. Apple accounts for approximately 6.6% of Cigna Investments Inc. New’s holdings, making the stock its largest position. Cigna Investments Inc. New’s holdings in Apple were worth $35,418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atlantic Private Wealth LLC acquired a new stake in shares of Apple in the first quarter valued at $30,000. Cheyne Capital Management UK LLP lifted its holdings in shares of Apple by 200.0% during the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after purchasing an additional 550 shares during the last quarter. HBC Financial Services PLLC lifted its holdings in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the last quarter. Clear Perspectives Financial Planning LLC lifted its holdings in shares of Apple by 27.3% during the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after purchasing an additional 211 shares during the last quarter. Finally, NNS Holding purchased a new stake in shares of Apple during the second quarter valued at $193,000. Institutional investors own 58.51% of the company’s stock.

Apple Price Performance

Shares of AAPL stock opened at $191.45 on Tuesday. The stock has a 50 day moving average of $177.15 and a two-hundred day moving average of $181.03. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 1.53. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $198.23. The company has a market capitalization of $2.98 trillion, a P/E ratio of 31.28, a P/E/G ratio of 2.60 and a beta of 1.30.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. Apple had a return on equity of 160.78% and a net margin of 25.31%. The company had revenue of $89.50 billion during the quarter, compared to the consensus estimate of $89.34 billion. During the same quarter last year, the company earned $1.29 EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 6.56 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were given a $0.24 dividend. The ex-dividend date was Friday, November 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.50%. Apple’s dividend payout ratio is currently 15.69%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several analyst reports. Barclays reduced their target price on Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a report on Monday, October 30th. Canaccord Genuity Group increased their price objective on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price objective on shares of Apple in a research note on Tuesday, October 31st. Canaccord Genuity Group increased their price objective on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, StockNews.com began coverage on Apple in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $198.25.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 123,448 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the completion of the transaction, the senior vice president now owns 293,266 shares in the company, valued at approximately $55,365,688.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Katherine L. Adams sold 123,448 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the completion of the transaction, the senior vice president now owns 293,266 shares in the company, valued at approximately $55,365,688.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total value of $11,279,400.96. Following the transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $23,483,548.95. The disclosure for this sale can be found here. Insiders sold 567,839 shares of company stock worth $100,675,794 in the last 90 days. 0.06% of the stock is owned by company insiders.

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.