CJM Wealth Advisers Ltd. Sells 98 Shares of Apple Inc. (NASDAQ:AAPL)

CJM Wealth Advisers Ltd. cut its position in Apple Inc. (NASDAQ:AAPL) by 0.5% during the 4th quarter, HoldingsChannel reports. The firm owned 18,428 shares of the iPhone maker’s stock after selling 98 shares during the quarter. Apple comprises about 1.6% of CJM Wealth Advisers Ltd.’s portfolio, making the stock its 10th largest holding. CJM Wealth Advisers Ltd.’s holdings in Apple were worth $3,548,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AAPL. Atlantic Private Wealth LLC bought a new stake in shares of Apple during the first quarter worth $30,000. Wyrmwood Management LLC increased its position in shares of Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares in the last quarter. Gilfoyle & Co LLC increased its position in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares in the last quarter. Summit Wealth Group LLC increased its position in shares of Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 6,949,659 shares in the last quarter. Finally, HBC Financial Services PLLC grew its position in Apple by 21.7% in 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 in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America raised shares of Apple from a “neutral” rating to a “buy” rating and raised their target price for the company from $208.00 to $225.00 in a research report on Thursday, January 18th. Piper Sandler Companies downgraded shares of Apple to a “neutral” rating and decreased their target price for the company from $220.00 to $205.00 in a research report on Thursday, January 4th. Redburn Atlantic downgraded shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 target price for the company. in a research report on Wednesday, January 10th. Piper Sandler decreased their target price on shares of Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Finally, Monness Crespi & Hardt raised their target price on shares of Apple from $189.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $204.08.

Insider Activity

In other news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

Shares of Apple stock opened at $172.69 on Tuesday. Apple Inc. has a twelve month low of $162.80 and a twelve month high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The company has a 50-day simple moving average of $176.40 and a two-hundred day simple moving average of $182.32. The stock has a market capitalization of $2.67 trillion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.13 and a beta of 1.27.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. During the same quarter in the previous year, the company earned $1.88 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Analysts forecast that Apple Inc. will post 6.55 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s payout ratio is presently 14.95%.

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.