Cumberland Advisors Inc. Reduces Position in Apple Inc. (NASDAQ:AAPL)


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Cumberland Advisors Inc. trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,690 shares of the iPhone maker’s stock after selling 1,950 shares during the period. Apple comprises 0.6% of Cumberland Advisors Inc.’s holdings, making the stock its 29th biggest holding. Cumberland Advisors Inc.’s holdings in Apple were worth $2,405,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Clear Perspectives Financial Planning LLC bought a new stake in shares of Apple during the fourth quarter worth $27,000. EMC Capital Management bought a new position in shares of Apple in the fourth quarter worth about $80,000. MD Financial Management Inc. bought a new stake in Apple during the 4th quarter valued at about $93,000. Insight Financial Services bought a new stake in Apple during the 4th quarter valued at about $95,000. Finally, Lloyd Advisory Services LLC. boosted its position in Apple by 20.1% in the 4th quarter. Lloyd Advisory Services LLC. now owns 760 shares of the iPhone maker’s stock valued at $101,000 after buying an additional 127 shares during the period. 57.77% of the stock is currently owned by institutional investors.

In other Apple news, SVP Deirdre O’brien sold 18,216 shares of the business’s stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $134.01, for a total value of $2,441,126.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 133,867 shares of the stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $125.74, for a total value of $16,832,436.58. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

NASDAQ:AAPL opened at $132.54 on Tuesday. Apple Inc. has a 1 year low of $71.58 and a 1 year high of $145.09. The stock has a market cap of $2.23 trillion, a P/E ratio of 40.66, a P/E/G ratio of 2.75 and a beta of 1.28. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.33 and a current ratio of 1.36. The stock has a 50-day simple moving average of $127.85 and a 200-day simple moving average of $125.92.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, April 27th. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.41. Apple had a return on equity of 75.15% and a net margin of 20.91%. The firm had revenue of $89.58 billion during the quarter, compared to the consensus estimate of $76.84 billion. During the same period in the prior year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 53.6% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 4.03 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 13th. Investors of record on Monday, May 10th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.66%. This is an increase from Apple’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, May 7th. Apple’s dividend payout ratio (DPR) is 25.00%.

Several research analysts have issued reports on AAPL shares. Needham & Company LLC reiterated a “buy” rating and set a $170.00 target price on shares of Apple in a report on Wednesday, April 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Apple from $160.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, April 29th. Cowen lifted their price objective on shares of Apple from $133.00 to $153.00 and gave the company an “outperform” rating in a research note on Friday, January 22nd. Credit Suisse Group raised their target price on Apple from $140.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Wedbush boosted their price target on Apple from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, April 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $146.82.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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