CMH Wealth Management LLC Sells 9,574 Shares of Apple Inc. $AAPL

CMH Wealth Management LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 8.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,600 shares of the iPhone maker’s stock after selling 9,574 shares during the period. Apple makes up approximately 4.7% of CMH Wealth Management LLC’s holdings, making the stock its 4th largest holding. CMH Wealth Management LLC’s holdings in Apple were worth $20,230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Ryan Investment Management Inc. purchased a new stake in shares of Apple during the 2nd quarter valued at about $31,000. ROSS JOHNSON & Associates LLC increased its holdings in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the last quarter. Conquis Financial LLC acquired a new position in shares of Apple in the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new position in shares of Apple in the 4th quarter worth approximately $65,000. Finally, Elite Financial Inc. acquired a new position in shares of Apple in the 1st quarter worth approximately $58,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Down 0.4%

NASDAQ:AAPL opened at $254.43 on Tuesday. The firm has a market capitalization of $3.78 trillion, a price-to-earnings ratio of 38.61, a PEG ratio of 2.65 and a beta of 1.11. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The business’s fifty day moving average price is $229.71 and its 200 day moving average price is $213.51.

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

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s payout ratio is presently 15.78%.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Phillip Securities lowered Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective for the company. in a research report on Thursday, September 11th. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research report on Friday, July 25th. Jefferies Financial Group boosted their price objective on Apple from $190.67 to $205.82 and gave the stock a “hold” rating in a research note on Monday, September 8th. Loop Capital dropped their price objective on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research note on Thursday, August 21st. Finally, BMO Capital Markets reissued a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $245.66.

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.