CCM Investment Advisers LLC Purchases 1,045 Shares of Apple Inc. (NASDAQ:AAPL)

CCM Investment Advisers LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,655 shares of the iPhone maker’s stock after purchasing an additional 1,045 shares during the period. Apple makes up approximately 3.4% of CCM Investment Advisers LLC’s holdings, making the stock its 2nd largest holding. CCM Investment Advisers LLC’s holdings in Apple were worth $30,676,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. San Luis Wealth Advisors LLC lifted its stake in shares of Apple by 2.0% in the 3rd quarter. San Luis Wealth Advisors LLC now owns 137,973 shares of the iPhone maker’s stock valued at $32,148,000 after purchasing an additional 2,654 shares in the last quarter. Albion Financial Group UT lifted its stake in shares of Apple by 0.5% in the 3rd quarter. Albion Financial Group UT now owns 348,794 shares of the iPhone maker’s stock valued at $81,269,000 after purchasing an additional 1,719 shares in the last quarter. Christopher J. Hasenberg Inc lifted its stake in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares in the last quarter. Hoese & Co LLP raised its holdings in shares of Apple by 43.9% during the 3rd quarter. Hoese & Co LLP now owns 1,312 shares of the iPhone maker’s stock valued at $306,000 after buying an additional 400 shares during the period. Finally, Cerro Pacific Wealth Advisors LLC raised its holdings in shares of Apple by 10.1% during the 3rd quarter. Cerro Pacific Wealth Advisors LLC now owns 71,649 shares of the iPhone maker’s stock valued at $16,694,000 after buying an additional 6,550 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Bank of America reiterated a “buy” rating and set a $256.00 target price on shares of Apple in a report on Thursday, October 3rd. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a report on Friday, October 25th. Morgan Stanley reiterated an “overweight” rating and set a $273.00 target price on shares of Apple in a report on Monday. Loop Capital dropped their target price on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, UBS Group raised their target price on Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

Apple Trading Down 0.1 %

NASDAQ:AAPL opened at $234.93 on Friday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The firm has a market capitalization of $3.55 trillion, a P/E ratio of 38.64, a P/E/G ratio of 2.28 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The business has a 50 day simple moving average of $228.83 and a 200 day simple moving average of $219.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s dividend payout ratio is currently 16.45%.

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.