Apple Inc. (NASDAQ:AAPL) is Cwm LLC’s 6th Largest Position

Cwm LLC lifted its position in Apple Inc. (NASDAQ:AAPL) by 2.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,000,264 shares of the iPhone maker’s stock after acquiring an additional 45,968 shares during the quarter. Apple comprises about 2.0% of Cwm LLC’s portfolio, making the stock its 6th biggest holding. Cwm LLC’s holdings in Apple were worth $421,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new stake in shares of Apple in the first quarter valued at approximately $35,000. Fidelis Capital Partners LLC grew its stake in Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple in the 4th quarter worth $39,000. Gilfoyle & Co LLC raised its position in Apple by 168.0% during the fourth quarter. Gilfoyle & Co LLC now owns 268 shares of the iPhone maker’s stock worth $52,000 after acquiring an additional 168 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. lifted its holdings in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. KeyCorp reissued a “hold” rating and set a $247.61 target price on shares of Apple in a research note on Wednesday. Moffett Nathanson started coverage on Apple in a report on Monday, August 19th. They set a “neutral” rating and a $211.00 target price for the company. Rosenblatt Securities raised their target price on Apple from $260.00 to $261.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Raymond James boosted their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and raised their price objective for the company from $200.00 to $230.00 in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $237.30.

Apple Price Performance

Shares of NASDAQ AAPL opened at $226.49 on Thursday. The stock’s 50-day simple moving average is $220.80 and its 200-day simple moving average is $195.02. The firm has a market capitalization of $3.47 trillion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 145.35%. Apple’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 earnings per share. As a group, equities research analysts forecast that Apple Inc. will post 6.61 EPS for the current fiscal year.

Apple announced that its board has authorized a share repurchase program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Apple 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.