TFC Financial Management Inc. raised its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 54,735 shares of the iPhone maker's stock after buying an additional 1,705 shares during the period. Apple comprises approximately 2.2% of TFC Financial Management Inc.'s holdings, making the stock its 8th largest holding. TFC Financial Management Inc.'s holdings in Apple were worth $13,707,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. State Street Corp raised its position in shares of Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after acquiring an additional 55,935,105 shares during the last quarter. FMR LLC lifted its stake in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after buying an additional 18,224,005 shares during the period. Geode Capital Management LLC boosted its holdings in Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after buying an additional 20,483,787 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Apple by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker's stock valued at $22,121,656,000 after acquiring an additional 5,893,741 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker's stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares during the last quarter. Institutional investors own 67.73% of the company's stock.
Apple Price Performance
Shares of NASDAQ AAPL traded up $2.52 during midday trading on Friday, reaching $196.79. The company's stock had a trading volume of 51,328,536 shares, compared to its average volume of 56,825,645. The company has a market cap of $2.96 trillion, a P/E ratio of 31.24, a P/E/G ratio of 2.44 and a beta of 1.26. Apple Inc. has a fifty-two week low of $164.77 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The business's 50 day moving average price is $219.65 and its two-hundred day moving average price is $230.13.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, February 10th. Apple's dividend payout ratio is presently 15.87%.
Insider Buying and Selling
In related news, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares of the company's stock, valued at $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock worth $40,818,720 in the last ninety days. 0.06% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on AAPL shares. Rosenblatt Securities reiterated a "buy" rating and issued a $263.00 target price on shares of Apple in a report on Thursday, April 3rd. JPMorgan Chase & Co. reduced their target price on Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Maxim Group lifted their price objective on Apple to $215.00 and gave the company a "hold" rating in a report on Friday, February 21st. Moffett Nathanson restated a "sell" rating and set a $188.00 target price (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Finally, Oppenheimer downgraded shares of Apple from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average price target of $235.85.
View Our Latest Research Report on AAPL
Apple Profile
(
Free Report)
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.
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