Total Investment Management Inc. Increases Stock Position in Apple Inc. (NASDAQ:AAPL)

Total Investment Management Inc. increased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,809 shares of the iPhone maker's stock after buying an additional 1,984 shares during the quarter. Apple accounts for about 0.9% of Total Investment Management Inc.'s holdings, making the stock its 16th biggest holding. Total Investment Management Inc.'s holdings in Apple were worth $7,644,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of AAPL. High Net Worth Advisory Group LLC boosted its stake in shares of Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker's stock valued at $14,916,000 after purchasing an additional 1,066 shares in the last quarter. Granite Investment Partners LLC lifted its stake in Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker's stock valued at $60,958,000 after purchasing an additional 7,606 shares during the last quarter. Truist Financial Corp lifted its stake in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker's stock valued at $1,473,224,000 after purchasing an additional 126,210 shares during the last quarter. Sterling Investment Counsel LLC boosted its position in Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker's stock valued at $16,269,000 after buying an additional 2,565 shares in the last quarter. Finally, Silicon Valley Capital Partners grew its stake in shares of Apple by 12.8% during the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker's stock worth $59,122,000 after buying an additional 28,799 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,130 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % 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 100,000 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company's stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Apple Stock Up 0.8 %

Shares of Apple stock traded up $1.72 during trading hours on Monday, reaching $229.98. The company's stock had a trading volume of 68,239,505 shares, compared to its average volume of 41,481,172. The company has a market capitalization of $3.48 trillion, a P/E ratio of 37.83, a P/E/G ratio of 2.32 and a beta of 1.20. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The stock's fifty day simple moving average is $241.01 and its two-hundred day simple moving average is $230.79.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. On average, research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple's payout ratio is 16.45%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AAPL. Wells Fargo & Company increased their price target on Apple to $275.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Barclays increased their target price on Apple to $184.00 and gave the company a "sell" rating in a research report on Friday, January 10th. Morgan Stanley restated an "overweight" rating and set a $273.00 price target on shares of Apple in a report on Friday, December 13th. Jefferies Financial Group downgraded Apple from a "buy" rating to a "hold" rating and upped their price objective for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Finally, Oppenheimer reiterated a "buy" rating and set a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Apple has an average rating of "Moderate Buy" and a consensus target price of $239.85.

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.