Apple Inc. (NASDAQ:AAPL) Shares Bought by Cidel Asset Management Inc.

Cidel Asset Management Inc. lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 8.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 78,733 shares of the iPhone maker’s stock after acquiring an additional 6,139 shares during the period. Apple makes up approximately 1.3% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 27th largest position. Cidel Asset Management Inc.’s holdings in Apple were worth $16,583,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc acquired a new position in shares of Apple in the first quarter worth $35,000. Fidelis Capital Partners LLC increased its position in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new position in Apple in the 4th quarter valued at about $39,000. University of Texas Texas AM Investment Managment Co. lifted its holdings in Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Apple during the 4th quarter worth about $85,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of AAPL stock opened at $228.20 on Friday. The firm has a fifty day simple moving average of $222.41 and a 200-day simple moving average of $199.99. The company has a market capitalization of $3.50 trillion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 EPS. Equities research analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock worth $23,723,887 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Apple in a research report on Thursday. Raymond James increased their target price on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and lifted their price target for the company from $200.00 to $230.00 in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $239.17.

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.