Twele Capital Management Inc. Cuts Stock Holdings in Apple Inc. $AAPL

Twele Capital Management Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,640 shares of the iPhone maker’s stock after selling 199 shares during the quarter. Twele Capital Management Inc.’s holdings in Apple were worth $542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of AAPL. Norges Bank purchased a new stake in Apple in the fourth quarter worth approximately $46,868,648,000. Nuveen LLC purchased a new stake in Apple in the first quarter worth approximately $17,472,482,000. GAMMA Investing LLC boosted its stake in Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after buying an additional 59,835,676 shares in the last quarter. Vanguard Group Inc. boosted its stake in Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after buying an additional 49,168,843 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $245.50 on Friday. 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 company has a market cap of $3.64 trillion, a PE ratio of 37.25, a P/E/G ratio of 2.47 and a beta of 1.11. The business has a 50 day moving average of $224.35 and a 200 day moving average of $212.42. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion during 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 quarter in the prior year, the company earned $1.40 earnings per share. As a group, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s dividend payout ratio is currently 15.78%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Melius Research set a $290.00 target price on Apple and gave the stock a “buy” rating in a research note on Wednesday, September 10th. HSBC set a $220.00 price objective on Apple and gave the company a “hold” rating in a research report on Monday, September 8th. Barclays boosted 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. Monness Crespi & Hardt boosted their price objective on Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Evercore ISI boosted their price objective on Apple from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $242.74.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

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.