Apple Inc. (NASDAQ:AAPL) Stock Position Increased by Tevis Investment Management

Tevis Investment Management raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,496 shares of the iPhone maker’s stock after buying an additional 103 shares during the quarter. Apple comprises about 4.1% of Tevis Investment Management’s investment portfolio, making the stock its 4th biggest holding. Tevis Investment Management’s holdings in Apple were worth $5,159,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Apple in the fourth quarter worth about $33,912,466,000. Vanguard Group Inc. increased its position in shares of Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after acquiring an additional 18,067,216 shares in the last quarter. Swedbank AB purchased a new position in Apple in the 1st quarter worth approximately $3,026,492,000. Global Assets Advisory LLC lifted its position in Apple by 23,076.4% in the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after acquiring an additional 9,200,345 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AAPL shares. Piper Sandler reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Tuesday, September 10th. Raymond James raised their target price on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Bank of America reiterated a “buy” rating and set a $256.00 target price on shares of Apple in a research note on Thursday, September 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $261.00 price objective on shares of Apple in a report on Tuesday, September 10th. Finally, StockNews.com raised Apple from a “hold” rating to a “buy” rating in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.76.

Apple Trading Down 0.4 %

Shares of NASDAQ AAPL opened at $226.37 on Thursday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The company has a market cap of $3.47 trillion, a price-to-earnings ratio of 35.21, a PEG ratio of 2.66 and a beta of 1.24. The business’s 50 day moving average price is $222.10 and its 200-day moving average price is $201.22.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share. On average, sell-side analysts expect that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is 15.55%.

Apple 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.