CIBC World Market Acquires Significant Stake in Apple Inc.
CIBC World Market Inc., a global investment firm, has acquired a significant stake in Apple Inc. (AAPL) during the second quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The company purchased approximately 3.26 million shares of AAPL stock, valued at around $944.36 million.
This acquisition represents about 1.5% of CIBC World Market Inc.'s investment portfolio, making AAPL its 11th largest position.
Several other hedge funds have also increased their stakes in AAPL during the second quarter, including Castlefield Investment Partners LLP, Satovsky Asset Management LLC, Osbon Capital Management LLC, OMERS ADMINISTRATION Corp, and Osmosis Investment Management UK Ltd.
Average analyst price targets for AAPL currently stand at around $340.14 per share, with a Moderate Buy rating from MarketBeat.com. Several analysts have recently adjusted their ratings on the stock, including Weiss Ratings, KGI Securities, Jefferies Financial Group, and Evercore.