Cullinan Associates Inc. Has $178.10 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Cullinan Associates Inc. lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 754,368 shares of the iPhone maker’s stock after selling 40,691 shares during the quarter. Apple comprises about 9.7% of Cullinan Associates Inc.’s investment portfolio, making the stock its largest position. Cullinan Associates Inc.’s holdings in Apple were worth $178,102,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after buying an additional 93,886,664 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after buying an additional 7,558,826 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Apple in the 2nd quarter valued at about $834,368,000. Ameriprise Financial Inc. boosted its position in Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after purchasing an additional 3,245,281 shares during the last quarter. Finally, Tairen Capital Ltd bought a new stake in Apple during the second quarter worth $588,952,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Up 0.3 %

AAPL stock opened at $255.27 on Tuesday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $255.65. The firm has a market cap of $3.86 trillion, a PE ratio of 41.99, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The firm has a fifty day moving average price of $234.97 and a 200 day moving average price of $225.91. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last issued 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. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.46 earnings per share. Sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Moffett Nathanson decreased their target price on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a report on Tuesday, November 19th. Rosenblatt Securities boosted their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. New Street Research reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Finally, Morgan Stanley restated an “overweight” rating and set a $273.00 price target on shares of Apple in a report on Friday, December 13th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $236.78.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock worth $117,004,745 over the last 90 days. Company insiders own 0.06% of the company’s stock.

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.