Apple Inc. $AAPL Position Lessened by Tcfg Wealth Management LLC

Tcfg Wealth Management LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 1.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 62,772 shares of the iPhone maker’s stock after selling 893 shares during the period. Apple comprises approximately 5.8% of Tcfg Wealth Management LLC’s holdings, making the stock its 2nd biggest holding. Tcfg Wealth Management LLC’s holdings in Apple were worth $12,879,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. First National Bank of Hutchinson lifted its holdings in shares of Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC raised its stake in Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC boosted its holdings in shares of Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after buying an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE increased its holdings in shares of Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after buying an additional 1,155 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on AAPL shares. JPMorgan Chase & Co. upped their price target on Apple from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday. Raymond James Financial reissued an “outperform” rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Rosenblatt Securities raised their price objective on Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Wedbush reaffirmed an “outperform” rating on shares of Apple in a research report on Tuesday, October 21st. Finally, Barclays raised their target price on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a report on Friday, August 1st. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $255.49.

Apple Stock Performance

AAPL opened at $269.70 on Thursday. 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 50 day moving average is $246.55 and its 200-day moving average is $221.19. The stock has a market cap of $4.00 trillion, a PE ratio of 40.93, a price-to-earnings-growth ratio of 2.61 and a beta of 1.09. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $271.41.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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. The business had revenue of $94.04 billion during 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 for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.40 EPS. On average, analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 259,121 shares of company stock worth $65,358,981. Insiders own 0.06% of the company’s stock.

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.