TPG Financial Advisors LLC Sells 96 Shares of Apple Inc. $AAPL

TPG Financial Advisors LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,263 shares of the iPhone maker’s stock after selling 96 shares during the quarter. Apple makes up approximately 2.4% of TPG Financial Advisors LLC’s holdings, making the stock its 18th biggest holding. TPG Financial Advisors LLC’s holdings in Apple were worth $6,004,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ryan Investment Management Inc. bought a new position in Apple in the second quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC boosted its position 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 purchasing an additional 180 shares during the last quarter. Elite Financial Inc. bought a new position in shares of Apple in the 1st quarter worth $58,000. LSV Asset Management bought a new position in shares of Apple during the fourth quarter worth $65,000. Finally, HFM Investment Advisors LLC bought a new position in Apple during the first quarter worth about $99,000. 67.73% of the stock is owned by institutional investors.

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the transaction, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This represents a 32.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 259,121 shares of company stock valued at $65,358,981 in the last 90 days. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL opened at $270.37 on Friday. 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 business’s 50-day simple moving average is $248.34 and its 200 day simple moving average is $222.01. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $277.32. The firm has a market capitalization of $4.01 trillion, a PE ratio of 41.03, a PEG ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. During the same quarter in the prior year, the business earned $1.64 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be given a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio is presently 15.78%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup reiterated a “buy” rating and set a $315.00 target price (up from $245.00) on shares of Apple in a report on Friday. UBS Group boosted their price target on Apple from $220.00 to $280.00 and gave the company a “neutral” rating in a report on Friday. Tigress Financial boosted their price target on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. The Goldman Sachs Group boosted their price target on Apple from $279.00 to $320.00 and gave the company a “buy” rating in a report on Friday. Finally, Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a research note on Thursday, September 4th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.39.

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.