Apple Inc. $AAPL Shares Sold by TPG Advisors LLC

TPG Advisors LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,548 shares of the iPhone maker’s stock after selling 312 shares during the period. Apple makes up 3.3% of TPG Advisors LLC’s investment portfolio, making the stock its 7th largest holding. TPG Advisors LLC’s holdings in Apple were worth $4,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of AAPL. Ryan Investment Management Inc. acquired a new stake in shares of Apple in the 2nd quarter worth $31,000. ROSS JOHNSON & Associates LLC lifted its stake in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the period. LSV Asset Management acquired a new stake in shares of Apple in the 4th quarter worth $65,000. Elite Financial Inc. acquired a new stake in shares of Apple in the 1st quarter worth $58,000. Finally, HFM Investment Advisors LLC acquired a new stake in shares of Apple in the 1st quarter worth $99,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the transaction, the chief financial officer owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were 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 approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 259,121 shares of company stock worth $65,358,981. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AAPL shares. CLSA upgraded shares of Apple to a “strong-buy” rating in a research note on Sunday, October 5th. JPMorgan Chase & Co. increased their price target on shares of Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, September 19th. UBS Group reiterated a “neutral” rating on shares of Apple in a report on Monday, September 8th. Bank of America increased their price objective on shares of Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Finally, Evercore ISI reissued an “outperform” rating on shares of Apple in a research note on Monday. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $252.47.

Apple Trading Up 0.2%

AAPL opened at $262.77 on Wednesday. The firm has a market capitalization of $3.90 trillion, a P/E ratio of 39.87, a P/E/G ratio of 2.55 and a beta of 1.09. The firm’s 50 day moving average is $242.49 and its 200-day moving average is $217.74. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $265.29. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

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

Apple Announces Dividend

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