Apple Inc. (NASDAQ:AAPL) is CMH Wealth Management LLC’s 2nd Largest Position

CMH Wealth Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,174 shares of the iPhone maker’s stock after buying an additional 1,077 shares during the quarter. Apple makes up 6.0% of CMH Wealth Management LLC’s investment portfolio, making the stock its 2nd largest position. CMH Wealth Management LLC’s holdings in Apple were worth $24,029,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AAPL. Drystone LLC purchased a new stake in Apple in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc purchased a new stake in Apple in the fourth quarter valued at approximately $47,000. Conquis Financial LLC purchased a new stake in Apple in the fourth quarter valued at approximately $63,000. LSV Asset Management purchased a new stake in Apple in the fourth quarter valued at approximately $65,000. Finally, Pillar Financial Advisors LLC purchased a new stake in Apple in the fourth quarter valued at approximately $82,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on AAPL. Barclays set a $173.00 target price on shares of Apple and gave the company an “underweight” rating in a report on Tuesday, June 24th. Loop Capital reduced their price target on shares of Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. TD Cowen reduced their price target on shares of Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Morgan Stanley reaffirmed an “overweight” rating on shares of Apple in a research report on Friday, June 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $270.00 price target on shares of Apple in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $235.27.

Apple Trading Up 0.5%

AAPL opened at $211.14 on Thursday. The stock has a market capitalization of $3.15 trillion, a PE ratio of 32.89, a P/E/G ratio of 2.35 and a beta of 1.20. The firm’s fifty day moving average price is $203.29 and its 200 day moving average price is $218.03. 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 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to analysts’ expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 earnings per share. As a group, research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued 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 boost from Apple’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple’s dividend payout ratio is 16.20%.

Apple declared that its board has approved a stock repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, CFO Kevan Parekh sold 4,570 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer owned 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction dated 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 owned 15,533 shares of the company’s stock, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

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.