Tevis Investment Management Raises Stock Position in Apple Inc. (NASDAQ:AAPL)

Tevis Investment Management lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,520 shares of the iPhone maker’s stock after purchasing an additional 1,024 shares during the period. Apple accounts for 4.4% of Tevis Investment Management’s holdings, making the stock its 3rd biggest position. Tevis Investment Management’s holdings in Apple were worth $5,946,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Goldstone Financial Group LLC bought a new stake in shares of Apple during the 3rd quarter worth about $5,214,000. Voisard Asset Management Group Inc. increased its position in Apple by 10.7% during the third quarter. Voisard Asset Management Group Inc. now owns 8,659 shares of the iPhone maker’s stock worth $2,018,000 after acquiring an additional 835 shares during the period. 1620 Investment Advisors Inc. raised its position in shares of Apple by 0.5% in the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after buying an additional 45 shares in the last quarter. Boyd Wealth Management LLC lifted its position in shares of Apple by 3.0% during the 3rd quarter. Boyd Wealth Management LLC now owns 4,459 shares of the iPhone maker’s stock valued at $1,039,000 after acquiring an additional 131 shares during the period. Finally, Solidarity Wealth LLC grew its holdings in shares of Apple by 6.1% during the 3rd quarter. Solidarity Wealth LLC now owns 164,452 shares of the iPhone maker’s stock worth $38,317,000 after purchasing an additional 9,507 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Apple news, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This trade represents a 35.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,435 shares of company stock valued at $39,376,002 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 0.7 %

Shares of Apple stock opened at $250.42 on Thursday. The company has a market capitalization of $3.79 trillion, a P/E ratio of 41.19, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The stock has a fifty day simple moving average of $238.41 and a 200 day simple moving average of $228.58. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the firm earned $1.46 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup upped their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a report on Tuesday, December 10th. Loop Capital decreased their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Piper Sandler reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Finally, StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $237.47.

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.