Tandem Capital Management Corp ADV Decreases Stock Holdings in Apple Inc. $AAPL

Tandem Capital Management Corp ADV trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,532 shares of the iPhone maker’s stock after selling 1,506 shares during the quarter. Apple comprises approximately 2.1% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 13th largest holding. Tandem Capital Management Corp ADV’s holdings in Apple were worth $4,212,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AAPL. Salus Financial Advisors LLC lifted its position in shares of Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after purchasing an additional 49 shares during the last quarter. Red Tortoise LLC raised its holdings in Apple by 0.9% during the second quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock worth $1,173,000 after purchasing an additional 49 shares in the last quarter. SigFig Wealth Management LLC lifted its holdings in shares of Apple by 2.8% in the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after purchasing an additional 50 shares in the last quarter. Shariaportfolio Inc. lifted its holdings in shares of Apple by 1.3% in the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock valued at $820,000 after purchasing an additional 50 shares in the last quarter. Finally, Sharpepoint LLC lifted its stake in shares of Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Apple

In other news, SVP Deirdre O’brien sold 43,013 shares of the 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 completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $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 worth $65,358,981 over the last three months. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Saturday. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $290.00 price objective on shares of Apple in a report on Wednesday. Raymond James Financial reissued an “outperform” rating and set a $240.00 target price (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Citigroup restated a “buy” rating and set a $315.00 price target (up from $245.00) on shares of Apple in a report on Friday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Apple in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $276.39.

Apple Stock Down 0.4%

Shares of NASDAQ AAPL opened at $270.37 on Monday. The firm’s 50-day simple moving average is $248.34 and its 200 day simple moving average is $222.34. The company has a market cap of $4.01 trillion, a price-to-earnings ratio of 41.03, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. 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 Inc. has a 12-month low of $169.21 and a 12-month high of $277.32.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The company had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 EPS. On average, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio is 13.92%.

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.