Tyche Wealth Partners LLC Has $28.18 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Tyche Wealth Partners LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 8.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,858 shares of the iPhone maker’s stock after selling 11,493 shares during the period. Apple accounts for about 6.1% of Tyche Wealth Partners LLC’s holdings, making the stock its 3rd largest holding. Tyche Wealth Partners LLC’s holdings in Apple were worth $28,179,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Burkett Financial Services LLC lifted its stake in shares of Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after purchasing an additional 93 shares during the period. Avid Wealth Partners LLC increased its position in Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after buying an additional 930 shares in the last quarter. OneAscent Wealth Management LLC increased its position in Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after buying an additional 409 shares in the last quarter. TruWealth Advisors LLC increased its position in Apple by 2.8% during the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock valued at $42,045,000 after buying an additional 5,120 shares in the last quarter. Finally, Allstate Corp increased its position in Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker’s stock valued at $113,062,000 after buying an additional 438,471 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity

In other news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider directly owned 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $213.12 on Thursday. The stock’s 50-day simple moving average is $205.84 and its 200-day simple moving average is $213.24. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a market capitalization of $3.16 trillion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.13 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%. The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the previous year, the business earned $1.40 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. As a group, analysts expect 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 stock buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Apple Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barclays raised their price objective on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research report on Friday, August 1st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $217.00 price objective on shares of Apple in a research report on Tuesday, July 29th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, May 21st. Citigroup raised their price objective on Apple from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, DA Davidson reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Friday, August 1st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Apple presently 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.