Apple Inc. (NASDAQ:AAPL) Position Boosted by CCM Investment Advisers LLC

CCM Investment Advisers LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,610 shares of the iPhone maker’s stock after purchasing an additional 816 shares during the quarter. Apple comprises 3.2% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 5th biggest holding. CCM Investment Advisers LLC’s holdings in Apple were worth $27,509,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Apple by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after acquiring an additional 18,067,216 shares in the last quarter. Norges Bank bought a new stake in Apple in the fourth quarter worth $33,912,466,000. Wellington Management Group LLP boosted its holdings in Apple by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after acquiring an additional 2,096,360 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Apple by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock worth $10,531,834,000 after acquiring an additional 1,067,587 shares in the last quarter. Finally, Capital International Investors boosted its holdings in Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Trading Down 0.3 %

AAPL opened at $229.00 on Friday. The stock’s fifty day moving average is $221.88 and its two-hundred day moving average is $195.77. The company has a market capitalization of $3.51 trillion, a P/E ratio of 35.61, a PEG ratio of 2.60 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 145.35% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period last year, the business posted $1.26 EPS. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts forecast that Apple Inc. will post 6.61 earnings per share for the current year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Piper Sandler reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Tuesday, August 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a report on Tuesday, August 27th. UBS Group reiterated a “neutral” rating and set a $190.00 price objective on shares of Apple in a research report on Monday, July 1st. Moffett Nathanson initiated coverage on Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target for the company. Finally, Evercore ISI restated an “outperform” rating and issued a $250.00 price target on shares of Apple in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $237.30.

Insider Activity

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

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.