Tevis Investment Management Sells 199 Shares of Apple Inc. (NASDAQ:AAPL)

Tevis Investment Management decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,344 shares of the iPhone maker’s stock after selling 199 shares during the period. Apple comprises 4.5% of Tevis Investment Management’s investment portfolio, making the stock its 3rd biggest position. Tevis Investment Management’s holdings in Apple were worth $4,722,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AAPL. Cookson Peirce & Co. Inc. raised its position in Apple by 47.6% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 7,571 shares of the iPhone maker’s stock valued at $1,469,000 after purchasing an additional 2,443 shares in the last quarter. Capital Planning Advisors LLC raised its position in Apple by 1.5% in the 2nd quarter. Capital Planning Advisors LLC now owns 106,169 shares of the iPhone maker’s stock valued at $20,594,000 after purchasing an additional 1,589 shares in the last quarter. Abbrea Capital LLC raised its position in Apple by 0.9% in the 2nd quarter. Abbrea Capital LLC now owns 228,755 shares of the iPhone maker’s stock valued at $44,372,000 after purchasing an additional 1,992 shares in the last quarter. Main Line Retirement Advisors LLC acquired a new stake in Apple in the 2nd quarter valued at about $607,000. Finally, Eukles Asset Management raised its position in Apple by 0.4% in the 2nd quarter. Eukles Asset Management now owns 53,182 shares of the iPhone maker’s stock valued at $10,316,000 after purchasing an additional 221 shares in the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Bank of America reaffirmed a “neutral” rating and issued a $173.00 price target on shares of Apple in a research report on Tuesday, October 24th. Canaccord Genuity Group increased their price target on Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Deutsche Bank Aktiengesellschaft increased their price objective on Apple from $180.00 to $210.00 and gave the company a “buy” rating in a report on Monday, July 24th. The Goldman Sachs Group dropped their price objective on Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a report on Wednesday, September 13th. Finally, Tigress Financial increased their price objective on Apple from $225.00 to $240.00 and gave the company a “strong-buy” rating in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.25.

Insider Activity

In related news, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the completion of the transaction, the chief executive officer now directly owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the completion of the transaction, the chief executive officer now directly owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 65,536 shares of Apple stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total value of $11,279,400.96. Following the transaction, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $23,483,548.95. The disclosure for this sale can be found here. Insiders sold 444,391 shares of company stock valued at $77,370,046 in the last three months. 0.06% of the stock is currently owned by company insiders.

Apple Stock Down 0.0 %

AAPL opened at $189.69 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.99 and a quick ratio of 0.94. The business has a 50 day simple moving average of $176.91 and a 200-day simple moving average of $180.76. The stock has a market capitalization of $2.95 trillion, a P/E ratio of 31.00, a P/E/G ratio of 2.60 and a beta of 1.30. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $198.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, beating the consensus estimate of $1.39 by $0.07. The business had revenue of $89.50 billion during the quarter, compared to analysts’ expectations of $89.34 billion. Apple had a return on equity of 160.78% and a net margin of 25.31%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the firm earned $1.29 EPS. On average, equities analysts anticipate that Apple Inc. will post 6.56 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.96 annualized dividend and a dividend yield of 0.51%. Apple’s dividend payout ratio is currently 15.69%.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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.