Tandem Investment Partners LLC Decreases Stake in Apple Inc. $AAPL

Tandem Investment Partners LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,391 shares of the iPhone maker’s stock after selling 113 shares during the quarter. Apple accounts for about 2.3% of Tandem Investment Partners LLC’s investment portfolio, making the stock its 18th biggest holding. Tandem Investment Partners LLC’s holdings in Apple were worth $2,308,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Advanced Portfolio Management LLC increased its position in shares of Apple by 0.3% during the 4th 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. Salus Financial Advisors LLC increased its position in shares of Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after purchasing an additional 49 shares during the last quarter. Disciplined Investments LLC increased its position in shares of Apple by 0.7% during the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker’s stock valued at $1,794,000 after purchasing an additional 51 shares during the last quarter. Sharpepoint LLC increased its position in shares of Apple by 3.5% during the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after purchasing an additional 51 shares during the last quarter. Finally, Redwood Financial Network Corp increased its position in shares of Apple by 0.6% during the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after purchasing an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of several analyst reports. DA Davidson reissued a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Friday, August 1st. Rosenblatt Securities reissued a “neutral” rating and set a $217.00 price target on shares of Apple in a research note on Tuesday, July 29th. The Goldman Sachs Group reissued a “buy” rating and set a $266.00 price target on shares of Apple in a research note on Tuesday, August 26th. Raymond James Financial reissued an “outperform” rating and set a $240.00 price target (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Finally, Barclays raised their price target on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $239.05.

Apple Price Performance

AAPL opened at $239.69 on Friday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. 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 business’s fifty day simple moving average is $219.28 and its 200-day simple moving average is $212.86. The company has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 36.37, a PEG ratio of 2.50 and a beta of 1.11.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company earned $1.40 EPS. The business’s revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s payout ratio is presently 15.78%.

Insider Activity at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of the business’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 transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

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.