CI Investments Inc. Increases Position in Apple Inc. (AAPL)

CI Investments Inc. boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 9.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,811,476 shares of the iPhone maker’s stock after purchasing an additional 149,975 shares during the quarter. Apple comprises about 2.6% of CI Investments Inc.’s holdings, making the stock its 6th biggest holding. CI Investments Inc.’s holdings in Apple were worth $279,185,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Gardiner Nancy B lifted its stake in Apple by 3.5% during the 2nd quarter. Gardiner Nancy B now owns 13,450 shares of the iPhone maker’s stock valued at $1,937,000 after acquiring an additional 456 shares during the period. Locust Wood Capital Advisers LLC lifted its stake in Apple by 2.5% during the 2nd quarter. Locust Wood Capital Advisers LLC now owns 175,564 shares of the iPhone maker’s stock valued at $25,285,000 after acquiring an additional 4,355 shares during the period. Northeast Financial Consultants Inc lifted its stake in Apple by 0.7% during the 2nd quarter. Northeast Financial Consultants Inc now owns 13,415 shares of the iPhone maker’s stock valued at $1,932,000 after acquiring an additional 96 shares during the period. FineMark National Bank & Trust lifted its stake in Apple by 1.1% during the 2nd quarter. FineMark National Bank & Trust now owns 233,791 shares of the iPhone maker’s stock valued at $33,671,000 after acquiring an additional 2,639 shares during the period. Finally, Eidelman Virant Capital lifted its stake in Apple by 396.7% during the 2nd quarter. Eidelman Virant Capital now owns 23,264 shares of the iPhone maker’s stock valued at $3,350,000 after acquiring an additional 18,580 shares during the period. 59.70% of the stock is currently owned by institutional investors.

Shares of Apple Inc. (NASDAQ:AAPL) opened at $172.43 on Tuesday. Apple Inc. has a one year low of $135.10 and a one year high of $180.10. The company has a market cap of $874,912.06, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 1.30 and a beta of 1.31. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.82 by $0.07. Apple had a net margin of 21.13% and a return on equity of 37.37%. The business had revenue of $88.29 billion during the quarter, compared to analyst estimates of $87.62 billion. During the same period last year, the firm posted $3.36 EPS. The company’s revenue was up 12.7% on a year-over-year basis. equities analysts forecast that Apple Inc. will post 11.46 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio (DPR) is currently 25.90%.

In other Apple news, SVP Johny Srouji sold 5,760 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the completion of the sale, the senior vice president now directly owns 81,560 shares of the company’s stock, valued at approximately $14,224,064. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the sale, the insider now directly owns 13,739 shares of the company’s stock, valued at $2,401,302.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,771 shares of company stock valued at $19,419,429. Insiders own 0.06% of the company’s stock.

AAPL has been the topic of several research analyst reports. UBS Group restated a “buy” rating and set a $180.00 target price on shares of Apple in a research note on Monday, October 23rd. Royal Bank of Canada restated a “buy” rating and set a $180.00 target price on shares of Apple in a research note on Monday, October 23rd. Drexel Hamilton reiterated a “buy” rating and issued a $208.00 price objective on shares of Apple in a research note on Monday, October 30th. Maxim Group reiterated a “buy” rating and issued a $193.00 price objective on shares of Apple in a research note on Friday, October 27th. Finally, initiated coverage on shares of Apple in a research note on Wednesday, October 25th. They issued a “buy” rating and a $193.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company. Apple currently has an average rating of “Buy” and an average target price of $201.64.

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About Apple

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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