Apple Inc. (NASDAQ:AAPL) is Cibc World Market Inc.'s 7th Largest Position

Cibc World Market Inc. boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,313,593 shares of the iPhone maker's stock after acquiring an additional 117,592 shares during the quarter. Apple comprises about 2.3% of Cibc World Market Inc.'s investment portfolio, making the stock its 7th biggest position. Cibc World Market Inc.'s holdings in Apple were worth $1,080,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Drystone LLC purchased a new stake in Apple in the 4th quarter worth about $25,000. Bull Oak Capital LLC grew its stake in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after buying an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new position in shares of Apple during the third quarter valued at approximately $71,000. Christopher J. Hasenberg Inc raised its holdings in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock worth $69,000 after buying an additional 144 shares during the period. Finally, Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple during the 3rd quarter worth approximately $77,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AAPL shares. Rosenblatt Securities reaffirmed a "buy" rating and issued a $262.00 price objective on shares of Apple in a research report on Monday, January 27th. Raymond James upped their price target on shares of Apple to $250.00 and gave the stock a "buy" rating in a report on Monday, January 20th. Jefferies Financial Group reiterated an "underperform" rating on shares of Apple in a report on Wednesday, February 19th. Argus upgraded shares of Apple to a "strong-buy" rating in a research note on Friday, January 31st. Finally, UBS Group lifted their price target on shares of Apple to $236.00 and gave the company a "hold" rating in a research note on Tuesday, February 25th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $245.52.

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Apple Stock Down 2.7 %

Apple stock traded down $5.95 during midday trading on Friday, reaching $217.90. The company's stock had a trading volume of 39,775,695 shares, compared to its average volume of 54,852,651. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10. The stock has a market capitalization of $3.27 trillion, a P/E ratio of 34.59, a PEG ratio of 2.44 and a beta of 1.18. 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's 50-day simple moving average is $230.70 and its 200-day simple moving average is $233.35.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Monday, February 10th. Apple's dividend payout ratio (DPR) is presently 15.87%.

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.