Cim Investment Management Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,294 shares of the iPhone maker's stock after selling 3,288 shares during the quarter. Apple accounts for 2.3% of Cim Investment Management Inc.'s investment portfolio, making the stock its 6th largest position. Cim Investment Management Inc.'s holdings in Apple were worth $10,061,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. First National Bank of Hutchinson increased its stake in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC boosted its stake in shares of Apple by 0.5% in the fourth 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 during the last quarter. Brighton Jones LLC raised its stake in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in 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 during the last quarter. Finally, Highview Capital Management LLC DE lifted its holdings in 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. Institutional investors and hedge funds own 67.73% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $240.00 target price (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Wednesday, September 10th. Loop Capital decreased their target price on shares of Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a research note on Thursday, August 21st. DA Davidson restated a "neutral" rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 11th. Finally, Rosenblatt Securities increased their price target on Apple from $223.00 to $241.00 and gave the company a "neutral" rating in a report on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $240.80.
View Our Latest Stock Report on AAPL
Insider Buying and Selling
In related news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by company insiders.
Apple Price Performance
Shares of AAPL opened at $236.70 on Tuesday. The firm has a 50-day simple moving average of $222.03 and a two-hundred day simple moving average of $211.99. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The stock has a market cap of $3.51 trillion, a PE ratio of 35.92, a P/E/G ratio of 2.43 and a beta of 1.11.
Apple (NASDAQ:AAPL - Get Free Report) last posted its 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter last year, the firm earned $1.40 EPS. The firm's revenue for the quarter was up 9.6% on a year-over-year basis. As a group, analysts forecast that Apple Inc. will post 7.28 EPS for the current year.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's dividend payout ratio is presently 15.78%.
Apple Company Profile
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Free Report)
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.
Further Reading
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