Apple Inc. (NASDAQ:AAPL) Stock Position Cut by TPG Advisors LLC

TPG Advisors LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,860 shares of the iPhone maker’s stock after selling 363 shares during the period. Apple accounts for approximately 4.0% of TPG Advisors LLC’s investment portfolio, making the stock its 8th largest holding. TPG Advisors LLC’s holdings in Apple were worth $5,078,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. TCV Trust & Wealth Management Inc. boosted its holdings in Apple by 0.6% in the first quarter. TCV Trust & Wealth Management Inc. now owns 165,971 shares of the iPhone maker’s stock worth $36,867,000 after acquiring an additional 1,036 shares in the last quarter. Jag Capital Management LLC boosted its holdings in Apple by 0.9% in the first quarter. Jag Capital Management LLC now owns 240,061 shares of the iPhone maker’s stock worth $53,325,000 after acquiring an additional 2,190 shares in the last quarter. Elevated Capital Advisors LLC boosted its holdings in Apple by 2.7% in the first quarter. Elevated Capital Advisors LLC now owns 49,655 shares of the iPhone maker’s stock worth $11,030,000 after acquiring an additional 1,297 shares in the last quarter. 3Chopt Investment Partners LLC boosted its holdings in Apple by 18.3% in the first quarter. 3Chopt Investment Partners LLC now owns 70,906 shares of the iPhone maker’s stock worth $15,750,000 after acquiring an additional 10,982 shares in the last quarter. Finally, Hartmann Taylor Wealth Management LLC acquired a new stake in Apple in the first quarter worth about $2,160,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. DA Davidson reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a report on Friday, August 1st. Evercore ISI lifted their target price on Apple to $250.00 and gave the stock a “buy” rating in a report on Friday, June 6th. Jefferies Financial Group raised Apple from an “underperform” rating to a “hold” rating in a report on Friday, July 18th. Barclays lifted their target price on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a report on Friday, July 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $237.60.

Apple Stock Up 4.2%

Shares of NASDAQ:AAPL opened at $229.35 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The business has a fifty day moving average of $206.84 and a two-hundred day moving average of $213.07. The stock has a market cap of $3.40 trillion, a P/E ratio of 34.80, a PEG ratio of 2.40 and a beta of 1.16. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.40 EPS. On average, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Apple Dividend Announcement

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

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.