CIBC Asset Management Inc raised its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,874,982 shares of the iPhone maker's stock after buying an additional 274,461 shares during the quarter. Apple accounts for 2.9% of CIBC Asset Management Inc's holdings, making the stock its 5th biggest holding. CIBC Asset Management Inc's holdings in Apple were worth $902,764,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker's stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares during the period. Strategic Financial Concepts LLC lifted its position in shares of Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker's stock valued at $1,603,000 after acquiring an additional 7,558,826 shares during the period. Pathway Financial Advisers LLC grew its holdings in shares of Apple by 22,870.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker's stock worth $1,302,607,000 after purchasing an additional 5,566,250 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Apple in the second quarter worth $834,368,000. Finally, National Pension Service raised its stake in Apple by 14.0% in the third quarter. National Pension Service now owns 27,882,996 shares of the iPhone maker's stock valued at $6,496,738,000 after purchasing an additional 3,416,922 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Trading Down 0.1 %
AAPL stock traded down $0.17 during midday trading on Thursday, hitting $223.66. The stock had a trading volume of 60,167,077 shares, compared to its average volume of 55,194,383. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The business has a fifty day moving average price of $241.07 and a two-hundred day moving average price of $230.77. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The firm has a market cap of $3.36 trillion, a P/E ratio of 36.79, a price-to-earnings-growth ratio of 2.18 and a beta of 1.20.
Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 EPS. On average, sell-side analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple's dividend payout ratio (DPR) is 16.45%.
Analyst Ratings Changes
Several equities analysts have commented on AAPL shares. The Goldman Sachs Group decreased their target price on shares of Apple from $286.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday. Jefferies Financial Group lowered shares of Apple from a "hold" rating to an "underperform" rating and reduced their price target for the stock from $211.84 to $200.75 in a research report on Tuesday. Oppenheimer restated a "buy" rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. KeyCorp downgraded Apple from a "sector weight" rating to an "underweight" rating and set a $200.00 target price on the stock. in a report on Friday, October 25th. Finally, Rosenblatt Securities upped their price objective on Apple from $261.00 to $262.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $238.14.
Check Out Our Latest Research Report on Apple
Insider Activity
In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company's stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company's stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.
About Apple
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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.
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