Cibc World Market Inc. Acquires 843,417 Shares of Apple Inc. (NASDAQ:AAPL)

Cibc World Market Inc. increased its stake in Apple Inc. (NASDAQ:AAPL) by 25.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,165,011 shares of the iPhone maker’s stock after buying an additional 843,417 shares during the quarter. Apple comprises 2.0% of Cibc World Market Inc.’s portfolio, making the stock its 10th largest position. Cibc World Market Inc.’s holdings in Apple were worth $877,235,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Swedbank AB bought a new position in Apple during the 1st quarter valued at $3,026,492,000. Strategic Financial Concepts LLC boosted its holdings in Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after purchasing an additional 7,558,826 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Apple by 158.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after buying an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC raised its stake in Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after acquiring an additional 5,405,542 shares during the period. Finally, Natixis lifted its holdings in shares of Apple by 127.7% in the 1st quarter. Natixis now owns 4,632,987 shares of the iPhone maker’s stock worth $794,465,000 after purchasing an additional 2,598,742 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $233.67 on Wednesday. The business’s 50-day simple moving average is $227.15 and its 200-day simple moving average is $211.46. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The firm has a market cap of $3.58 trillion, a price-to-earnings ratio of 36.34, a P/E/G ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same period in the previous year, the company posted $1.26 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts expect that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio is 15.55%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AAPL shares. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. TD Cowen lifted their price target on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. KeyCorp lowered 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. Finally, Wedbush restated an “outperform” rating and set a $285.00 price objective on shares of Apple in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $235.91.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Apple news, insider Chris Kondo sold 8,706 shares of Apple 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 completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by company insiders.

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.