CJM Wealth Advisers Ltd. Trims Holdings in Apple Inc. (NASDAQ:AAPL)

CJM Wealth Advisers Ltd. trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,034 shares of the iPhone maker's stock after selling 1,707 shares during the period. Apple accounts for about 1.7% of CJM Wealth Advisers Ltd.'s investment portfolio, making the stock its 9th biggest holding. CJM Wealth Advisers Ltd.'s holdings in Apple were worth $4,894,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Tallon Kerry Patrick bought a new position in shares of Apple in the 4th quarter worth about $1,877,000. First National Bank of Hutchinson increased its stake in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Capital & Planning LLC increased its stake in shares of Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock worth $6,836,000 after acquiring an additional 2,647 shares in the last quarter. JBGlobal.com LLC bought a new position in shares of Apple in the 4th quarter worth about $2,302,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. increased its stake in shares of Apple by 7.1% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 30,000 shares of the iPhone maker's stock worth $7,513,000 after acquiring an additional 2,000 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of AAPL traded down $1.25 on Friday, reaching $211.16. The company's stock had a trading volume of 39,713,698 shares, compared to its average volume of 53,349,236. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The stock has a market capitalization of $3.15 trillion, a P/E ratio of 32.89, a PEG ratio of 2.36 and a beta of 1.20. The stock's 50 day simple moving average is $203.39 and its two-hundred day simple moving average is $217.12. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.53 earnings per share. Research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. Apple's dividend payout ratio (DPR) is presently 16.20%.

Insider Activity at Apple

In other Apple news, 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 owned 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays set a $173.00 price target on shares of Apple and gave the stock an "underweight" rating in a research note on Tuesday, June 24th. Morgan Stanley restated an "overweight" rating on shares of Apple in a research note on Friday, June 13th. JPMorgan Chase & Co. reduced their price objective on shares of Apple from $245.00 to $230.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Loop Capital reduced their price objective on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Finally, Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued 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 $235.27.

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.