Tevis Investment Management Has $6.36 Million Position in Apple Inc. (NASDAQ:AAPL)

Tevis Investment Management reduced its stake in Apple Inc. (NASDAQ:AAPL) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,378 shares of the iPhone maker’s stock after selling 142 shares during the period. Apple makes up approximately 4.7% of Tevis Investment Management’s holdings, making the stock its 3rd largest holding. Tevis Investment Management’s holdings in Apple were worth $6,355,000 as of its most recent SEC filing.

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

Apple Stock Up 4.1 %

NASDAQ:AAPL opened at $198.15 on Friday. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The stock has a 50-day moving average price of $222.87 and a two-hundred day moving average price of $231.14. The stock has a market cap of $2.98 trillion, a price-to-earnings ratio of 31.45, a PEG 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 (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, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. This represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now owns 179,158 shares of the company’s stock, valued at approximately $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 182,451 shares of company stock valued at $40,818,720. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on AAPL shares. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Apple in a research report on Friday, April 4th. Wedbush reduced their price target on shares of Apple from $325.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, April 7th. DA Davidson set a $290.00 price objective on shares of Apple in a research report on Friday, January 31st. Redburn Partners set a $230.00 target price on shares of Apple in a research note on Friday, January 31st. Finally, Monness Crespi & Hardt increased their price target on shares of Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $240.26.

About Apple

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.