CJM Wealth Advisers Ltd. Boosts Stock Position in Apple Inc. (NASDAQ:AAPL)

CJM Wealth Advisers Ltd. lifted its position in Apple Inc. (NASDAQ:AAPL) by 10.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,515 shares of the iPhone maker’s stock after acquiring an additional 1,989 shares during the quarter. Apple accounts for approximately 1.6% of CJM Wealth Advisers Ltd.’s investment portfolio, making the stock its 9th largest holding. CJM Wealth Advisers Ltd.’s holdings in Apple were worth $4,780,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AAPL. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after buying an additional 42,282 shares during the period. Fountainhead AM LLC grew its holdings in Apple by 5.9% during the first quarter. Fountainhead AM LLC now owns 51,041 shares of the iPhone maker’s stock worth $8,753,000 after acquiring an additional 2,829 shares during the period. SWP Financial LLC raised its position in Apple by 23.6% during the first quarter. SWP Financial LLC now owns 42,691 shares of the iPhone maker’s stock valued at $7,321,000 after acquiring an additional 8,158 shares in the last quarter. Concord Wealth Partners lifted its holdings in Apple by 16.7% in the first quarter. Concord Wealth Partners now owns 71,927 shares of the iPhone maker’s stock valued at $12,334,000 after acquiring an additional 10,286 shares during the period. Finally, Summit Place Financial Advisors LLC boosted its position in Apple by 9.0% in the 1st quarter. Summit Place Financial Advisors LLC now owns 34,856 shares of the iPhone maker’s stock worth $5,977,000 after purchasing an additional 2,867 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Friday, November 1st. The Goldman Sachs Group boosted their price objective on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. TD Cowen increased their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Moffett Nathanson cut their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, New Street Research reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

Apple Stock Performance

Shares of AAPL opened at $228.28 on Wednesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The stock has a market capitalization of $3.45 trillion, a P/E ratio of 37.55, a P/E/G ratio of 2.20 and a beta of 1.24. The firm’s 50 day moving average is $227.34 and its 200-day moving average is $217.31. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the business posted $1.46 earnings per share. Apple’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s payout ratio is presently 16.45%.

About Apple

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.