TBH Global Asset Management LLC Decreases Stock Position in Apple Inc. $AAPL

TBH Global Asset Management LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 15.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 214,413 shares of the iPhone maker’s stock after selling 38,945 shares during the period. Apple accounts for about 4.8% of TBH Global Asset Management LLC’s investment portfolio, making the stock its 2nd largest position. TBH Global Asset Management LLC’s holdings in Apple were worth $43,991,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Burkett Financial Services LLC raised its stake in Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after acquiring an additional 93 shares during the period. Avid Wealth Partners LLC raised its stake in Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after acquiring an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC raised its stake in Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after acquiring an additional 240 shares during the period. American National Bank & Trust raised its stake in Apple by 2.4% during the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after acquiring an additional 4,543 shares during the period. Finally, Andina Capital Management LLC raised its stake in Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after acquiring an additional 4,591 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Trading Up 1.0%

AAPL stock opened at $247.66 on Tuesday. The firm has a fifty day moving average price of $238.50 and a 200 day moving average price of $216.04. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market cap of $3.68 trillion, a PE ratio of 37.58, a price-to-earnings-growth ratio of 2.39 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same period last year, the firm posted $1.40 earnings per share. Apple’s revenue for the quarter was up 9.6% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal 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 $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is 15.78%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AAPL shares. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research report on Friday, July 25th. Wedbush set a $310.00 price objective on shares of Apple and gave the company an “outperform” rating in a research report on Monday, September 22nd. UBS Group reiterated a “neutral” rating on shares of Apple in a research report on Monday, September 8th. Monness Crespi & Hardt lifted their price objective on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Phillip Securities cut shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective on the stock. in a research report on Thursday, September 11th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $248.29.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,922 shares of company stock valued at $64,320,190. 0.06% of the stock is owned by corporate insiders.

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.