TPG Financial Advisors LLC Sells 376 Shares of Apple Inc. (NASDAQ:AAPL)

TPG Financial Advisors LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,359 shares of the iPhone maker’s stock after selling 376 shares during the period. Apple makes up about 2.9% of TPG Financial Advisors LLC’s portfolio, making the stock its 14th biggest holding. TPG Financial Advisors LLC’s holdings in Apple were worth $6,522,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new position in Apple during the 4th quarter worth $46,868,648,000. GAMMA Investing LLC grew its stake in Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after buying an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. lifted its position in Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after acquiring an additional 49,168,843 shares during the period. Proficio Capital Partners LLC lifted its position in Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker’s stock worth $5,272,653,000 after acquiring an additional 20,966,232 shares during the period. Finally, Northern Trust Corp lifted its position in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the period. 67.73% of the stock is owned by institutional investors.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares of the company’s stock, valued at approximately $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Apple Stock Down 0.1%

Shares of AAPL opened at $210.02 on Friday. The firm has a market cap of $3.14 trillion, a P/E ratio of 32.71, a P/E/G ratio of 2.35 and a beta of 1.20. The stock has a 50 day simple moving average of $204.32 and a two-hundred day simple moving average of $216.12. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm had revenue of $95.36 billion for the quarter, compared to analysts’ expectations of $94.04 billion. During the same period in the prior year, the firm posted $1.53 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has approved a share repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, May 12th. This is an increase from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio (DPR) is 16.20%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. TD Cowen cut their price target on Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price target on shares of Apple in a research note on Wednesday, July 9th. Loop Capital decreased their price target on Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. Barclays set a $173.00 target price on Apple and gave the company an “underweight” rating in a report on Tuesday, June 24th. Finally, UBS Group set a $210.00 price target on Apple and gave the stock a “neutral” rating in a report on Thursday, July 3rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.11.

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.