TPB Wealth Advisors Cuts Holdings in Apple Inc. (NASDAQ:AAPL)

TPB Wealth Advisors lowered its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 39,113 shares of the iPhone maker’s stock after selling 215 shares during the quarter. Apple accounts for 2.6% of TPB Wealth Advisors’ holdings, making the stock its 10th biggest holding. TPB Wealth Advisors’ holdings in Apple were worth $5,406,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Great West Life Assurance Co. Can bought a new position in Apple in the 3rd quarter valued at $1,890,884,000. Barclays PLC grew its position in Apple by 53.0% in the 3rd quarter. Barclays PLC now owns 30,235,823 shares of the iPhone maker’s stock valued at $4,178,590,000 after acquiring an additional 10,471,342 shares during the last quarter. Legal & General Group Plc grew its position in Apple by 8.2% in the 2nd quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock valued at $16,889,649,000 after acquiring an additional 9,411,018 shares during the last quarter. Vanguard Group Inc. grew its position in Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after acquiring an additional 8,734,393 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in Apple by 12.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock valued at $11,001,469,000 after acquiring an additional 8,716,964 shares during the last quarter. Institutional investors own 57.60% of the company’s stock.

Apple Stock Up 0.3 %

Apple stock opened at $152.99 on Thursday. The firm has a market cap of $2.42 trillion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $179.61. The business’s 50-day moving average price is $145.51 and its 200 day moving average price is $145.38. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.76.

Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.05). The company had revenue of $117.15 billion for the quarter, compared to analyst estimates of $121.67 billion. Apple had a return on equity of 163.45% and a net margin of 24.56%. The firm’s revenue was down 5.5% on a year-over-year basis. During the same period last year, the business earned $2.10 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 6.04 earnings per share for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Friday, February 10th. This is an increase from Apple’s previous quarterly dividend of $0.17. Apple’s dividend payout ratio (DPR) is 15.62%.

Analyst Ratings Changes

Several equities analysts have commented on AAPL shares. Cowen cut their price objective on Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Jefferies Financial Group restated a “buy” rating and set a $195.00 price objective on shares of Apple in a research note on Thursday, March 2nd. National Bank Financial decreased their price objective on Apple to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. Morgan Stanley upped their price objective on Apple from $175.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, March 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $170.00 price objective on shares of Apple in a research note on Friday, March 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $168.24.

Apple Company Profile

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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.