Tanager Wealth Management LLP Has $14.82 Million Position in Apple Inc. $AAPL

Tanager Wealth Management LLP reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 2.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,231 shares of the iPhone maker’s stock after selling 1,579 shares during the period. Apple makes up about 1.7% of Tanager Wealth Management LLP’s investment portfolio, making the stock its 16th largest position. Tanager Wealth Management LLP’s holdings in Apple were worth $14,820,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AAPL. Ryan Investment Management Inc. bought a new position in Apple in the 2nd quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC grew its holdings in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares in the last quarter. Elite Financial Inc. acquired a new stake in shares of Apple during the 1st quarter worth approximately $58,000. LSV Asset Management acquired a new stake in shares of Apple during the 4th quarter worth approximately $65,000. Finally, HFM Investment Advisors LLC acquired a new stake in shares of Apple during the 1st quarter worth approximately $99,000. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. CLSA raised Apple to a “strong-buy” rating in a report on Sunday, October 5th. Raymond James Financial reissued an “outperform” rating and set a $240.00 price objective (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Wedbush reissued an “outperform” rating on shares of Apple in a report on Tuesday. Bank of America lifted their price objective on Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Finally, Rosenblatt Securities lifted their price objective on Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $252.47.

Apple Price Performance

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

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping 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 return on equity of 170.91% and a net margin of 24.30%.The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 earnings per share. On average, analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid 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 yield of 0.4%. Apple’s payout ratio is currently 15.78%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,121 shares of company stock worth $65,358,981 in the last three months. Company 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.