Tenon Financial LLC Purchases 9,667 Shares of Apple Inc. (NASDAQ:AAPL)

Tenon Financial LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 290.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,997 shares of the iPhone maker’s stock after purchasing an additional 9,667 shares during the quarter. Apple makes up approximately 2.1% of Tenon Financial LLC’s holdings, making the stock its 7th largest position. Tenon Financial LLC’s holdings in Apple were worth $3,169,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Drystone LLC bought a new stake in Apple during the fourth quarter worth approximately $25,000. Bull Oak Capital LLC increased its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple during the third quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in Apple during the 3rd quarter valued at $77,000. Finally, ARK Investment Management LLC purchased a new stake in Apple in the 3rd quarter worth about $110,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $198.85 on Thursday. The stock has a market capitalization of $2.99 trillion, a P/E ratio of 31.56, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The firm has a 50 day moving average of $224.31 and a 200-day moving average of $231.59.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price for the company. in a research note on Tuesday, January 21st. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Apple in a report on Friday, April 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $263.00 target price on shares of Apple in a report on Thursday, April 3rd. Monness Crespi & Hardt upped their price target on shares of Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Citigroup reiterated a “buy” rating on shares of Apple in a research note on Wednesday, April 2nd. Three analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $240.26.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. This trade represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 182,451 shares of company stock worth $40,818,720. 0.06% of the stock is currently owned by corporate insiders.

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.