Apple Inc. $AAPL Stock Sold by Cim Investment Management Inc.

Key Points

• Cim Investment Management reduced its Apple stake by 8.4% in the second quarter, selling 3,754 shares and retaining 40,733 shares valued at approximately $11.8 million. Apple remains Cim’s sixth-largest holding and represents 2.8% of its portfolio.
• Several institutional investors initiated new Apple positions during the quarter, while institutional investors and hedge funds collectively owned 67.73% of the stock.
• Apple reported quarterly EPS of $2.02, exceeding the $1.89 consensus estimate, while revenue rose 16.4% year over year to $109.42 billion. Analysts maintained a “Moderate Buy” consensus with an average price target of $340.39, and the company declared a $0.27 quarterly dividend.

Cim Investment Management Inc. trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 8.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,733 shares of the iPhone maker's stock after selling 3,754 shares during the quarter. Apple comprises approximately 2.8% of Cim Investment Management Inc.'s investment portfolio, making the stock its 6th biggest position. Cim Investment Management Inc.'s holdings in Apple were worth $11,787,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prospect Hill Management LLC acquired a new stake in Apple during the 2nd quarter worth approximately $146,370,000. Focus Partners Advisor Solutions LLC acquired a new position in Apple in the 2nd quarter valued at $168,646,000. Wealthfront Advisers LLC acquired a new position in Apple in the 2nd quarter valued at $482,388,000. Satovsky Asset Management LLC bought a new position in Apple during the 2nd quarter worth $16,064,000. Finally, Saranac Partners Ltd bought a new position in Apple during the 2nd quarter worth $9,513,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ AAPL opened at $340.97 on Tuesday. The business has a fifty day moving average price of $323.36 and a two-hundred day moving average price of $303.99. The stock has a market capitalization of $4.98 trillion, a PE ratio of 39.10, a P/E/G ratio of 2.68 and a beta of 1.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. Apple Inc. has a fifty-two week low of $243.42 and a fifty-two week high of $345.34.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%. Apple's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.57 EPS. As a group, equities analysts predict that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple's payout ratio is 12.39%.

Analysts Set New Price Targets

AAPL has been the subject of a number of research reports. Weiss Ratings raised Apple from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday. Rosenblatt Securities restated a "neutral" rating and issued a $303.00 price target on shares of Apple in a research note on Thursday, September 10th. Piper Sandler assumed coverage on shares of Apple in a research note on Monday, August 17th. They issued an "overweight" rating on the stock. Rothschild & Co Redburn set a $400.00 price target on shares of Apple and gave the stock a "buy" rating in a research report on Monday, August 17th. Finally, HSBC reiterated a "buy" rating and issued a $366.00 price objective on shares of Apple in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $340.39.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: JPMorgan raised its Apple price target from $340 to $360 and maintained an “Overweight” rating, citing improved iPhone 18 Pro demand. Bank of America reiterated its Buy rating and kept a $370 target, viewing potential Starlink competition as manageable. Apple Stock Climbs as JPMorgan Lifts Target, BofA Reiterates Buy
• Positive Sentiment: Apple reportedly reached a 22% share of the global smartphone market in the third quarter, supported by premium iPhone 18 Pro demand despite an overall industry shipment decline. Reports of strong orders for a new foldable iPhone also provided an additional growth narrative. Apple Stock Nears Record High as iPhone Market Share Hits 22%
• Positive Sentiment: Investors are anticipating Apple’s expanded smart-home strategy, including a rumored HomeView hub and updated Apple TV and HomePod mini. A successful launch could strengthen Apple’s ecosystem and open a new product category. Will the HomeView Be Apple’s First Smart Home Success?
• Neutral Sentiment: CEO succession is proceeding with John Ternus replacing Tim Cook, while Cook becomes executive chairman. Apple also met with Chinese officials, underscoring the importance of maintaining stable business and trade relations in its largest overseas market. Tim Cook Meets China’s Vice Premier
• Negative Sentiment: SpaceX’s planned Starlink mobile service could pressure wireless-carrier subsidies that support iPhone sales and eventually create a competing smartphone ecosystem. SpaceX’s Starlink Could Pose Risks to Apple
• Negative Sentiment: Reported supplier order reductions and rising memory costs are renewing concerns about iPhone 18 demand and margins. Google’s integration of wearable data with more than 160 lab tests also increases competition for Apple’s health-platform advantage. iPhone 18 Demand and Supplier Order Cuts

Insider Activity

In other Apple news, SVP Deirdre O'brien sold 46,389 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the sale, the senior vice president directly owned 136,810 shares in the company, valued at $45,615,190.20. This represents a 25.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the firm's stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $332.01, for a total transaction of $796,491.99. Following the completion of the transaction, the senior vice president directly owned 39,593 shares in the company, valued at approximately $13,145,271.93. This represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 279,383 shares of company stock worth $92,912,517. 0.06% of the stock is owned by company insiders.

Apple Company Profile

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple's services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

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