CBM Financial LLC Takes Position in Apple Inc. $AAPL

Key Points

• CBM Financial LLC acquired 5,333 shares of Apple Inc. during the 1st quarter, valuing approximately $1,128,000, making it the firm's 11th largest holding.
• Wall Street analysts have mixed ratings for Apple, with a consensus of "Moderate Buy" and an average price target of $240.80.
• Apple announced a quarterly dividend of $0.26 per share, reflecting an annualized yield of 0.4%, with a payout ratio of 15.78%.

CBM Financial LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,333 shares of the iPhone maker's stock, valued at approximately $1,128,000. Apple makes up about 0.9% of CBM Financial LLC's portfolio, making the stock its 11th biggest holding.

Other institutional investors also recently made changes to their positions in the company. First National Bank of Hutchinson boosted its holdings 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 valued at $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC boosted its stake in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC boosted its stake in shares of Apple by 14.8% during the fourth 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 period. Revolve Wealth Partners LLC grew its holdings in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after purchasing an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE increased its stake in shares of Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock worth $12,587,000 after buying an additional 1,155 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AAPL shares. The Goldman Sachs Group reissued a "buy" rating and set a $266.00 price target on shares of Apple in a research report on Tuesday, August 26th. DA Davidson reissued a "neutral" rating and issued a $250.00 target price on shares of Apple in a research note on Thursday. Moffett Nathanson upgraded Apple from a "sell" rating to a "neutral" rating and set a $225.00 price target on the stock in a report on Thursday, September 4th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Friday, July 25th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and an average price target of $240.80.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The shares were 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 approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of AAPL stock opened at $234.07 on Monday. The business's fifty day moving average is $221.50 and its 200 day moving average is $212.02. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.47 trillion, a price-to-earnings ratio of 35.52, a PEG ratio of 2.43 and a beta of 1.11. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 earnings per share. Research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is 15.78%.

Apple Company 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.

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