Apple Inc. (NASDAQ:AAPL) is TBH Global Asset Management LLC’s 2nd Largest Position

TBH Global Asset Management LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 38.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 253,358 shares of the iPhone maker’s stock after acquiring an additional 70,896 shares during the quarter. Apple comprises approximately 5.6% of TBH Global Asset Management LLC’s holdings, making the stock its 2nd biggest position. TBH Global Asset Management LLC’s holdings in Apple were worth $56,278,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advanced Portfolio Management LLC grew its stake in Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after purchasing an additional 47 shares during the last quarter. Family Capital Management Inc. grew its stake in shares of Apple by 0.3% during the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock worth $4,235,000 after acquiring an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock worth $4,178,000 after acquiring an additional 48 shares during the last quarter. Salus Financial Advisors LLC grew its stake in shares of Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after acquiring an additional 49 shares during the last quarter. Finally, Scarborough Advisors LLC grew its stake in shares of Apple by 0.3% during the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock worth $3,992,000 after acquiring an additional 51 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 1.1%

Shares of AAPL opened at $229.65 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The stock has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 34.85, a PEG ratio of 2.38 and a beta of 1.16. The stock has a 50 day moving average price of $207.88 and a 200 day moving average price of $213.21.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping 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 firm had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the previous year, the business earned $1.40 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Apple announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AAPL shares. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research note on Wednesday, May 21st. Scotiabank lowered Apple to a “market perform” rating in a research note on Friday, May 2nd. Raymond James Financial restated an “outperform” rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Evercore ISI boosted their price target on Apple to $250.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. Finally, UBS Group boosted their price target on Apple from $210.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.60.

Insider Activity at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

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.