Cambridge Capital Management LLC Purchases New Shares in Apple Inc. $AAPL

Cambridge Capital Management LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,449 shares of the iPhone maker’s stock, valued at approximately $708,000. Apple accounts for about 0.4% of Cambridge Capital Management LLC’s holdings, making the stock its 24th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First National Bank of Hutchinson raised its holdings in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC grew its holdings in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after acquiring an additional 272 shares in the last quarter. Brighton Jones LLC increased its position in shares of Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE raised its stake in shares of Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after purchasing an additional 1,155 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on Apple from $279.00 to $320.00 and gave the company a “buy” rating in a report on Friday, October 31st. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target for the company in a report on Thursday, September 4th. Wall Street Zen lowered Apple from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Apple in a report on Wednesday. Finally, Barclays boosted their target price on shares of Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $278.22.

Apple Price Performance

Shares of NASDAQ AAPL opened at $271.49 on Monday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $4.01 trillion, a PE ratio of 41.20, a P/E/G ratio of 2.62 and a beta of 1.09. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32. The business’s fifty day moving average price is $259.49 and its two-hundred day moving average price is $229.36.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were paid a $0.26 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 13.92%.

Insider Activity at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 228,052 shares of company stock valued at $58,604,588. Company insiders own 0.06% of the company’s stock.

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.