CMH Wealth Management LLC Trims Stock Position in Apple Inc. (NASDAQ:AAPL)

CMH Wealth Management LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,836 shares of the iPhone maker’s stock after selling 6,147 shares during the period. Apple comprises about 4.7% of CMH Wealth Management LLC’s holdings, making the stock its 4th largest holding. CMH Wealth Management LLC’s holdings in Apple were worth $18,663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Wyrmwood Management LLC lifted its holdings in shares of Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares during the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple during the fourth quarter valued at about $39,000. Gilfoyle & Co LLC boosted its position in Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the period. University of Texas Texas AM Investment Managment Co. increased its holdings in shares of Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares during the period. Finally, Clarity Asset Management Inc. bought a new stake in shares of Apple in the 4th quarter valued at about $85,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, 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 of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 346,270 shares of company stock worth $60,880,196. Company insiders own 0.06% of the company’s stock.

Apple Trading Down 1.6 %

Shares of NASDAQ AAPL opened at $210.62 on Friday. The firm’s 50 day moving average price is $192.13 and its 200-day moving average price is $185.40. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $220.20. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The company has a market cap of $3.23 trillion, a PE ratio of 32.76, a P/E/G ratio of 2.60 and a beta of 1.25.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. During the same period last year, the business posted $1.52 EPS. The company’s revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts expect that Apple Inc. will post 6.59 EPS for the current fiscal year.

Apple declared that its Board of Directors has authorized a stock buyback program on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were given a $0.25 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. Apple’s payout ratio is 15.55%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AAPL. UBS Group restated a “neutral” rating and set a $190.00 price target on shares of Apple in a research report on Tuesday, June 11th. DA Davidson raised shares of Apple from a “neutral” rating to a “buy” rating and raised their price target for the stock from $200.00 to $230.00 in a report on Tuesday, June 11th. Canaccord Genuity Group upped their price objective on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Saturday, May 4th. Rosenblatt Securities raised Apple from a “neutral” rating to a “buy” rating and raised their target price for the stock from $196.00 to $260.00 in a research note on Wednesday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $216.00 price target on shares of Apple in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.71.

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.