Connor Clark & Lunn Investment Management Ltd. Buys 110,777 Shares of Apple Inc. $AAPL

Connor Clark & Lunn Investment Management Ltd. grew its stake in Apple Inc. (NASDAQ:AAPL) by 11.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,091,663 shares of the iPhone maker’s stock after purchasing an additional 110,777 shares during the period. Apple makes up approximately 1.1% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 22nd largest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Apple were worth $242,491,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Life Planning Partners Inc bought a new stake in shares of Apple in the 4th quarter valued at approximately $47,000. Elite Financial Inc. bought a new stake in Apple during the 1st quarter worth approximately $58,000. Conquis Financial LLC bought a new stake in Apple during the 4th quarter worth approximately $63,000. LSV Asset Management bought a new stake in Apple during the 4th quarter worth approximately $65,000. Finally, Pillar Financial Advisors LLC bought a new stake in Apple during the 4th quarter worth approximately $82,000. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AAPL has been the topic of a number of research analyst reports. Monness Crespi & Hardt increased their price target on Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Rosenblatt Securities restated a “neutral” rating and set a $217.00 price target on shares of Apple in a research report on Tuesday, July 29th. Wedbush restated an “outperform” rating and set a $270.00 price target on shares of Apple in a research report on Wednesday, September 3rd. DA Davidson restated a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Friday, August 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Apple in a report on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $239.05.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Apple Stock Down 0.0%

Shares of AAPL opened at $239.69 on Monday. The firm has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 36.37, a PEG ratio of 2.50 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The business’s fifty day moving average price is $219.28 and its two-hundred day moving average price is $212.40. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period last year, the company earned $1.40 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. On average, analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s dividend payout ratio (DPR) is currently 15.78%.

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.