Cibc World Markets Corp boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 12.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,208,608 shares of the iPhone maker's stock after acquiring an additional 366,332 shares during the period. Apple comprises about 4.7% of Cibc World Markets Corp's portfolio, making the stock its 3rd largest position. Cibc World Markets Corp's holdings in Apple were worth $803,500,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Drystone LLC bought a new position in Apple during the 4th quarter worth about $25,000. Life Planning Partners Inc bought a new stake in shares of Apple in the 4th quarter valued at about $47,000. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple in the 3rd quarter valued at about $71,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple in the 3rd quarter valued at about $77,000. Finally, Pillar Financial Advisors LLC bought a new stake in shares of Apple in the 4th quarter valued at about $82,000. 67.73% of the stock is currently owned by institutional investors.
Insider Activity
In other news, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at $87,377,116.59. The trade was a 8.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock valued at $42,694,080 in the last three months. 0.06% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on AAPL shares. Maxim Group raised their price target on shares of Apple to $215.00 and gave the company a "hold" rating in a report on Friday, February 21st. Citigroup restated a "cautious" rating on shares of Apple in a report on Monday, May 5th. JPMorgan Chase & Co. lowered their price target on shares of Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Scotiabank cut shares of Apple to a "market perform" rating in a report on Friday, May 2nd. Finally, Tigress Financial increased their price objective on shares of Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, April 3rd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $235.80.
Check Out Our Latest Stock Report on Apple
Apple Stock Performance
AAPL traded up $0.21 during trading on Wednesday, reaching $200.42. 44,115,560 shares of the company's stock were exchanged, compared to its average volume of 56,207,844. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock has a market capitalization of $2.99 trillion, a P/E ratio of 31.81, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The company's fifty day simple moving average is $204.36 and its 200-day simple moving average is $225.54. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 EPS. As a group, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple announced that its board has initiated a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's payout ratio is 16.20%.
Apple Profile
(
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.
Featured Articles
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
