Tsfg LLC Lowers Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Tsfg LLC reduced its position in Apple Inc. (NASDAQ:AAPLFree Report) by 3.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 48,218 shares of the iPhone maker’s stock after selling 1,859 shares during the period. Apple comprises approximately 2.1% of Tsfg LLC’s holdings, making the stock its 13th biggest holding. Tsfg LLC’s holdings in Apple were worth $8,268,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Flagstone Financial Management boosted its stake in Apple by 0.9% during the 4th quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock valued at $1,173,000 after purchasing an additional 56 shares during the period. High Pines Wealth Management LLC boosted its stake in Apple by 0.7% during the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after purchasing an additional 58 shares during the period. Asset Planning Corporation boosted its stake in Apple by 1.0% during the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after purchasing an additional 59 shares during the period. Columbus Macro LLC boosted its stake in Apple by 0.5% during the 4th quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after purchasing an additional 59 shares during the period. Finally, Stableford Capital II LLC boosted its stake in Apple by 0.3% during the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Up 2.2 %

Apple stock opened at $226.34 on Friday. The firm has a market cap of $3.47 trillion, a PE ratio of 35.20, a P/E/G 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. The firm’s 50 day moving average price is $197.44 and its two-hundred day moving average price is $186.24. Apple Inc. has a twelve month low of $164.07 and a twelve month 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 the consensus estimate 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 company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 EPS. On average, research analysts predict that Apple Inc. will post 6.59 EPS for the current fiscal year.

Apple Increases Dividend

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

Apple announced that its board has initiated a stock buyback program on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Canaccord Genuity Group upped their price target 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. Melius Research upped their price target on shares of Apple from $227.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Citigroup reduced their price target on shares of Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $205.00 price target on shares of Apple in a research note on Thursday, June 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $215.71.

Get Our Latest Analysis on Apple

Insiders Place Their Bets

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The disclosure for this sale can be found here. Insiders sold 192,355 shares of company stock valued at $34,771,329 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Profile

(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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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