Apple Inc. (NASDAQ:AAPL) Position Raised by TFC Financial Management Inc.

TFC Financial Management Inc. boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 54,735 shares of the iPhone maker’s stock after acquiring an additional 1,705 shares during the quarter. Apple comprises about 2.2% of TFC Financial Management Inc.’s portfolio, making the stock its 8th largest position. TFC Financial Management Inc.’s holdings in Apple were worth $13,707,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. State Street Corp grew its position in Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the period. FMR LLC boosted its stake in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC grew its holdings in Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after acquiring an additional 20,483,787 shares during the period. Charles Schwab Investment Management Inc. raised its position in Apple by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after acquiring an additional 5,893,741 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

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

Apple Price Performance

AAPL stock opened at $194.27 on Thursday. The company’s 50-day moving average price is $220.98 and its two-hundred day moving average price is $230.53. The firm has a market cap of $2.92 trillion, a P/E ratio of 30.84, a P/E/G ratio of 2.44 and a beta of 1.26. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 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 for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.51%. Apple’s payout ratio is 15.87%.

Analyst Ratings Changes

A number of research firms have recently commented on AAPL. Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating and dropped their target price for the company from $202.33 to $167.88 in a research report on Wednesday, April 9th. Maxim Group boosted their price objective on Apple to $215.00 and gave the company a “hold” rating in a research report on Friday, February 21st. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a report on Tuesday, January 21st. Finally, KeyCorp upgraded shares of Apple from an “underweight” rating to a “sector weight” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.85.

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.