TFC Financial Management lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,452 shares of the iPhone maker’s stock after purchasing an additional 732 shares during the quarter. Apple comprises approximately 2.2% of TFC Financial Management’s investment portfolio, making the stock its 7th biggest position. TFC Financial Management’s holdings in Apple were worth $6,972,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of AAPL. Bluestem Financial Advisors LLC grew its holdings in shares of 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 during the period. HBC Financial Services PLLC boosted 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 valued at $49,000 after acquiring an additional 80 shares during the period. Ramsey Quantitative Systems purchased a new position in Apple during the 2nd quarter valued at about $55,000. Morgan Dempsey Capital Management LLC purchased a new position in Apple during the 3rd quarter valued at about $55,000. Finally, Newfound Research LLC purchased a new position in Apple during the 3rd quarter valued at about $67,000. 57.60% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
AAPL has been the subject of a number of research analyst reports. BNP Paribas cut Apple from an “outperform” rating to a “neutral” rating and set a $140.00 target price for the company. in a report on Tuesday, January 3rd. Bank of America lowered their target price on Apple from $160.00 to $154.00 and set a “neutral” rating for the company in a report on Monday, November 7th. Oppenheimer reduced their price target on Apple from $190.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, December 12th. Bank Of America (Bofa) lowered Apple from a “buy” rating to a “neutral” rating and reduced their price target for the company from $189.00 to $160.00 in a research report on Friday, September 30th. Finally, Robert W. Baird reduced their price target on Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, October 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $171.22.
Apple Trading Up 0.9 %
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. Apple had a return on equity of 160.90% and a net margin of 25.31%. The firm had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 6.19 EPS for the current year.
Apple Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.23 per share. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.68%. Apple’s payout ratio is 15.06%.
Insiders Place Their Bets
In other Apple news, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the sale, the insider now directly owns 31,505 shares in the company, valued at $4,685,423.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the transaction, the insider now directly owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.
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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
- Get a free copy of the StockNews.com research report on Apple (AAPL)
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