Apple Inc. $AAPL Shares Purchased by Cim Investment Management Inc.

Cim Investment Management Inc. raised its position in Apple Inc. (NASDAQ:AAPL) by 106.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,705 shares of the iPhone maker’s stock after purchasing an additional 48,411 shares during the quarter. Apple accounts for approximately 3.7% of Cim Investment Management Inc.’s holdings, making the stock its 4th largest holding. Cim Investment Management Inc.’s holdings in Apple were worth $19,225,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 4,199 shares of the firm’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total value of $1,038,790.61. Following the transaction, the chief financial officer owned 8,765 shares in the company, valued at approximately $2,168,373.35. This trade represents a 32.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 228,052 shares of company stock valued at $58,604,588 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL opened at $278.28 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.89 and a quick ratio of 0.86. The business has a fifty day simple moving average of $268.24 and a 200 day simple moving average of $237.28. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $288.62. The company has a market capitalization of $4.11 trillion, a PE ratio of 37.25, a price-to-earnings-growth ratio of 2.60 and a beta of 1.10.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The company had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same quarter in the previous year, the business posted $1.64 earnings per share. Apple’s quarterly revenue was up 8.7% on a year-over-year basis. Research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend 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 currently 13.92%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AAPL shares. Wells Fargo & Company set a $300.00 price objective on shares of Apple and gave the stock an “overweight” rating in a research note on Friday, October 31st. Argus set a $325.00 price target on Apple and gave the stock a “buy” rating in a research report on Friday, October 31st. Cowen restated a “buy” rating on shares of Apple in a research note on Monday, October 27th. Tigress Financial lifted their target price on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 17th. Finally, DA Davidson boosted their target price on Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.51.

Apple 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.