Cim LLC lessened its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 77,209 shares of the iPhone maker's stock after selling 6,177 shares during the quarter. Apple makes up about 2.5% of Cim LLC's portfolio, making the stock its 17th biggest position. Cim LLC's holdings in Apple were worth $17,150,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC grew its holdings in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares during the period. Life Planning Partners Inc purchased a new position in shares of Apple during the fourth quarter worth approximately $47,000. Elite Financial Inc. purchased a new position in Apple in the first quarter worth $58,000. Conquis Financial LLC acquired a new position in Apple during the fourth quarter valued at $63,000. Finally, LSV Asset Management purchased a new position in Apple in the fourth quarter valued at $65,000. 67.73% of the stock is currently owned by institutional investors.
Insider Activity at Apple
In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the 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 sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.
Apple Price Performance
Shares of Apple stock traded up $1.45 during trading on Tuesday, hitting $238.15. 63,364,012 shares of the stock traded hands, compared to its average volume of 45,474,312. The stock has a market cap of $3.53 trillion, a price-to-earnings ratio of 36.14, a PEG ratio of 2.46 and a beta of 1.11. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm's fifty day moving average is $222.59 and its 200-day moving average is $212.17. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.
Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 EPS. Research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. Loop Capital dropped their price objective on shares of Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a research report on Thursday, August 21st. Morgan Stanley set a $240.00 target price on shares of Apple and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Monness Crespi & Hardt raised their price objective on shares of Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Melius Research set a $290.00 price target on shares of Apple and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Finally, Bank of America upped their price target on Apple from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $241.77.
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About Apple
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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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