Apple Inc. (NASDAQ:AAPL) Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,322 shares of the iPhone maker’s stock after selling 2,037 shares during the period. Apple accounts for 3.4% of Cim Investment Management Inc.’s investment portfolio, making the stock its 5th largest holding. Cim Investment Management Inc.’s holdings in Apple were worth $11,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of the company. Bull Oak Capital LLC boosted its position in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new position in Apple in the second quarter worth $42,000. Christopher J. Hasenberg Inc increased its holdings in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in Apple in the third quarter valued at approximately $77,000. Finally, ARK Investment Management LLC bought a new position in shares of Apple during the 3rd quarter worth $110,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $244.60 on Friday. The firm’s 50-day moving average price is $240.70 and its 200-day moving average price is $231.59. The company has a market cap of $3.67 trillion, a PE ratio of 38.83, a PEG ratio of 2.32 and a beta of 1.20. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AAPL. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Sanford C. Bernstein lifted their price target on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Friday, January 31st. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Finally, Monness Crespi & Hardt upped their target price on Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $242.52.

Insider Activity

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.