JCIC Asset Management Inc. Sells 532 Shares of Apple Inc. (NASDAQ:AAPL)

JCIC Asset Management Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,162 shares of the iPhone maker’s stock after selling 532 shares during the period. Apple comprises 11.9% of JCIC Asset Management Inc.’s investment portfolio, making the stock its biggest position. JCIC Asset Management Inc.’s holdings in Apple were worth $26,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC lifted its position in shares of Apple by 116,483.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after acquiring an additional 569,066,184 shares in the last quarter. Norges Bank acquired a new position in Apple in the 4th quarter valued at $21,746,940,000. Morgan Stanley lifted its holdings in Apple by 14.2% in the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after purchasing an additional 25,926,552 shares in the last quarter. Barclays PLC boosted its stake in Apple by 60.0% during the 2nd quarter. Barclays PLC now owns 46,932,352 shares of the iPhone maker’s stock worth $9,103,464,000 after purchasing an additional 17,604,799 shares during the last quarter. Finally, Osaic Holdings Inc. grew its holdings in shares of Apple by 154.9% during the second quarter. Osaic Holdings Inc. now owns 23,295,770 shares of the iPhone maker’s stock worth $1,729,270,000 after buying an additional 14,157,430 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 253,915 shares of company stock worth $44,202,868. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL stock opened at $169.58 on Friday. The business has a 50 day moving average price of $178.29 and a 200 day moving average price of $182.30. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The stock has a market cap of $2.62 trillion, a price-to-earnings ratio of 26.41, a PEG ratio of 2.05 and a beta of 1.27. Apple Inc. has a fifty-two week low of $159.78 and a fifty-two week high of $199.62.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.09. The business had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.88 EPS. Equities research analysts anticipate that Apple Inc. will post 6.55 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Friday, February 9th. Apple’s payout ratio is 14.95%.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research reports. The Goldman Sachs Group raised their price target on shares of Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Citigroup reissued a “buy” rating and issued a $225.00 target price on shares of Apple in a research note on Friday, February 16th. JPMorgan Chase & Co. dropped their price target on Apple from $225.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Oppenheimer reiterated an “outperform” rating and set a $200.00 price objective on shares of Apple in a research report on Friday, February 2nd. Finally, Redburn Partners cut Apple to a “neutral” rating and set a $200.00 target price for the company. in a report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $204.23.

About Apple

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.