Apple Inc. (AAPL) Position Lowered by CCM Investment Advisers LLC

CCM Investment Advisers LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.3% during the first quarter, Holdings Channel reports. The firm owned 125,252 shares of the iPhone maker’s stock after selling 9,929 shares during the period. Apple comprises 3.6% of CCM Investment Advisers LLC’s holdings, making the stock its largest position. CCM Investment Advisers LLC’s holdings in Apple were worth $17,993,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cantab Capital Partners LLP raised its position in shares of Apple by 140.4% in the fourth quarter. Cantab Capital Partners LLP now owns 17,118 shares of the iPhone maker’s stock worth $1,983,000 after buying an additional 9,997 shares during the last quarter. Jafra Capital Management LP purchased a new position in shares of Apple during the fourth quarter worth $3,496,000. InterOcean Capital LLC raised its position in shares of Apple by 7.4% in the fourth quarter. InterOcean Capital LLC now owns 157,328 shares of the iPhone maker’s stock worth $18,222,000 after buying an additional 10,833 shares during the last quarter. Parallel Advisors LLC purchased a new position in shares of Apple during the fourth quarter worth $10,885,000. Finally, Integre Asset Management LLC raised its position in shares of Apple by 3.6% in the fourth quarter. Integre Asset Management LLC now owns 52,977 shares of the iPhone maker’s stock worth $6,136,000 after buying an additional 1,821 shares during the last quarter. Hedge funds and other institutional investors own 61.50% of the company’s stock.

Shares of Apple Inc. (NASDAQ:AAPL) traded down 1.12% during mid-day trading on Thursday, hitting $159.15. The company had a trading volume of 8,514,889 shares. Apple Inc. has a 12-month low of $102.53 and a 12-month high of $162.51. The firm has a market cap of $822.05 billion, a PE ratio of 18.07 and a beta of 1.31. The firm’s 50 day moving average is $151.25 and its 200-day moving average is $145.28.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. Apple’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 EPS. On average, equities analysts expect that Apple Inc. will post $9.02 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 14th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, August 10th. Apple’s payout ratio is currently 28.64%.

Apple declared that its Board of Directors has approved a stock repurchase program on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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A number of research analysts have weighed in on the company. BidaskClub upgraded Apple from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays PLC restated a “hold” rating and issued a $146.00 price objective on shares of Apple in a report on Tuesday. Vetr lowered Apple from a “buy” rating to a “hold” rating and set a $164.97 price objective on the stock. in a report on Tuesday. Sanford C. Bernstein restated an “outperform” rating and issued a $175.00 price objective on shares of Apple in a report on Monday. Finally, Longbow Research restated a “buy” rating and issued a $173.00 price objective on shares of Apple in a report on Friday, August 11th. Twelve research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company. Apple has a consensus rating of “Buy” and an average price target of $167.33.

In other news, insider Eduardo H. Cue sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $153.78, for a total value of $6,920,100.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel J. Riccio sold 11,949 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The disclosure for this sale can be found here. Insiders sold a total of 287,962 shares of company stock worth $44,702,313 over the last three months. 0.08% of the stock is owned by company insiders.

Apple Company Profile

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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