Apple Inc. (NASDAQ:AAPL) Shares Sold by TFC Financial Management

TFC Financial Management reduced its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,720 shares of the iPhone maker’s stock after selling 123 shares during the quarter. Apple makes up 2.0% of TFC Financial Management’s portfolio, making the stock its 8th biggest holding. TFC Financial Management’s holdings in Apple were worth $6,798,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CFS Investment Advisory Services LLC increased its stake in Apple by 18,263.5% in the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after purchasing an additional 7,416,445 shares during the last quarter. Spence Asset Management purchased a new stake in Apple during the second quarter valued at about $49,000. HBC Financial Services PLLC grew its position in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the period. Emerson Wealth LLC grew its position in Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 320 shares during the period. Finally, Darrow Company Inc. purchased a new stake in Apple during the second quarter valued at about $107,000. 57.72% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 0.4 %

Shares of Apple stock opened at $151.29 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. The business’s 50 day simple moving average is $147.08 and its 200-day simple moving average is $149.77. The stock has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 24.76, a PEG ratio of 1.93 and a beta of 1.25. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. The business had revenue of $90.15 billion for the quarter, compared to analysts’ expectations of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS. Equities research analysts forecast that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Friday, November 4th. Apple’s payout ratio is 15.06%.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research reports. JPMorgan Chase & Co. set a $200.00 price target on Apple in a research report on Monday, November 14th. Bank of America lowered their price target on Apple from $160.00 to $154.00 and set a “neutral” rating for the company in a research report on Monday, November 7th. Monness Crespi & Hardt began coverage on Apple in a research report on Thursday, September 8th. They set a “buy” rating and a $174.00 price target for the company. DA Davidson decreased their target price on Apple from $185.00 to $167.00 and set a “buy” rating for the company in a research report on Friday, October 28th. Finally, Robert W. Baird decreased their target price on Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $176.26.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 8,053 shares of the firm’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $142.45, for a total value of $1,147,149.85. Following the completion of the sale, the senior vice president now owns 136,290 shares in the company, valued at $19,414,510.50. The disclosure for this sale can be found here. Insiders have sold a total of 360,651 shares of company stock worth $53,703,645 in the last three months. 0.06% of the stock is owned by company insiders.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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