Tarbox Family Office Inc. Has $5.39 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Tarbox Family Office Inc. decreased its position in Apple Inc. (NASDAQ:AAPLFree Report) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,431 shares of the iPhone maker’s stock after selling 695 shares during the quarter. Apple comprises approximately 0.9% of Tarbox Family Office Inc.’s investment portfolio, making the stock its 17th biggest position. Tarbox Family Office Inc.’s holdings in Apple were worth $5,390,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Wyrmwood Management LLC raised its stake in Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares in the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Apple in the fourth quarter valued at approximately $39,000. Gilfoyle & Co LLC boosted its stake in shares of Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the period. University of Texas Texas AM Investment Managment Co. grew its position in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. bought a new position in Apple during the 4th quarter worth $85,000. Institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $220.00 target price on shares of Apple in a research report on Monday, July 1st. Canaccord Genuity Group increased their price objective on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Bank of America restated a “buy” rating and issued a $230.00 target price on shares of Apple in a research report on Wednesday, June 26th. Morgan Stanley reiterated an “overweight” rating and set a $216.00 price target on shares of Apple in a research report on Tuesday, June 11th. Finally, Maxim Group upped their target price on Apple from $178.00 to $195.00 and gave the stock a “hold” rating in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.71.

Check Out Our Latest Report on AAPL

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the completion of the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Apple news, insider Chris Kondo sold 4,999 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,162 shares of Apple stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $84,378,155.68. The disclosure for this sale can be found here. Insiders sold 192,355 shares of company stock worth $34,771,329 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

Apple stock opened at $226.34 on Friday. The stock’s 50 day moving average price is $197.44 and its two-hundred day moving average price is $186.31. The stock has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 35.20, a PEG ratio of 2.69 and a beta of 1.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $226.45.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm earned $1.52 earnings per share. On average, equities analysts predict that Apple Inc. will post 6.59 earnings per share for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a $0.25 dividend. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio is presently 15.55%.

Apple announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

About Apple

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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