Cigna Investments Inc. New lowered its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.0% in the third quarter, Holdings Channel reports. The firm owned 190,002 shares of the iPhone maker’s stock after selling 9,951 shares during the period. Apple accounts for 5.8% of Cigna Investments Inc. New’s investment portfolio, making the stock its 2nd biggest holding. Cigna Investments Inc. New’s holdings in Apple were worth $26,258,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of AAPL. Robinson Value Management Ltd. bought a new position in Apple during the third quarter worth about $28,000. Hanseatic Management Services Inc. grew its position in shares of Apple by 75.4% in the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock valued at $34,000 after purchasing an additional 107 shares during the period. Bluestem Financial Advisors LLC increased its stake in Apple by 5,935.2% during the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 229,929 shares in the last quarter. HBC Financial Services PLLC raised its holdings in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the period. Finally, Ramsey Quantitative Systems bought a new position in Apple in the second quarter valued at approximately $55,000. Institutional investors own 57.60% of the company’s stock.
Apple Price Performance
Apple stock opened at $150.47 on Tuesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.94 and a quick ratio of 0.89. Apple Inc. has a one year low of $124.17 and a one year high of $179.61. The firm has a market cap of $2.38 trillion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30. The stock’s fifty day moving average price is $144.43 and its two-hundred day moving average price is $145.41.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were paid a $0.23 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, February 10th. This represents a $0.92 annualized dividend and a dividend yield of 0.61%. Apple’s dividend payout ratio (DPR) is presently 15.62%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on AAPL shares. Bank of America upped their target price on shares of Apple from $153.00 to $158.00 in a research note on Friday, February 3rd. Fundamental Research reiterated a “buy” rating and set a $168.00 price objective on shares of Apple in a report on Tuesday, February 14th. Credit Suisse Group set a $184.00 price target on Apple in a research report on Monday, February 6th. Cowen cut their price objective on shares of Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Finally, The Goldman Sachs Group began coverage on shares of Apple in a research report on Sunday, March 5th. They issued a “buy” rating and a $199.00 target price for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $168.24.
Apple Company Profile
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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