Timonier Family Office LTD. Lowers Holdings in Apple Inc. (NASDAQ:AAPL)

Timonier Family Office LTD. decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 6.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,855 shares of the iPhone maker’s stock after selling 326 shares during the quarter. Apple comprises about 0.5% of Timonier Family Office LTD.’s investment portfolio, making the stock its 25th biggest holding. Timonier Family Office LTD.’s holdings in Apple were worth $1,078,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AAPL. Norges Bank bought a new stake in shares of Apple in the 4th quarter worth $46,868,648,000. GAMMA Investing LLC increased its holdings in shares of Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after purchasing an additional 59,835,676 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Apple by 3.7% in 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 purchasing an additional 49,168,843 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Apple by 23,555.4% in 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 purchasing an additional 20,966,232 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $213.12 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $3.16 trillion, a P/E ratio of 32.34, a P/E/G ratio of 2.13 and a beta of 1.16. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The business’s 50-day moving average is $205.84 and its 200 day moving average is $213.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.40 earnings per share. On average, equities research 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 initiated a share repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple’s payout ratio is currently 15.78%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Bank of America lifted their price objective on Apple from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, August 1st. UBS Group lifted their price objective on Apple from $210.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Scotiabank lowered Apple to a “market perform” rating in a report on Friday, May 2nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, May 21st. Finally, Loop Capital cut their price objective on Apple from $230.00 to $215.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $237.25.

Apple 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.