Tnf LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,860 shares of the iPhone maker’s stock after selling 206 shares during the quarter. Apple makes up approximately 1.6% of Tnf LLC’s investment portfolio, making the stock its 15th largest position. Tnf LLC’s holdings in Apple were worth $3,537,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Daniels&Tansey LLP boosted its holdings in Apple by 1.6% during the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock valued at $685,000 after acquiring an additional 60 shares during the period. Donald L. Hagan LLC boosted its holdings in Apple by 0.3% during the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after acquiring an additional 61 shares during the period. Goodwin Daniel L boosted its holdings in Apple by 0.5% during the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after acquiring an additional 62 shares during the period. Opus Capital Group LLC boosted its holdings in Apple by 0.3% during the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after acquiring an additional 63 shares during the period. Finally, Hanlon Investment Management Inc. boosted its holdings in Apple by 0.7% during the 4th quarter. Hanlon Investment Management Inc. now owns 10,124 shares of the iPhone maker’s stock valued at $1,798,000 after acquiring an additional 66 shares during the period. 57.98% of the stock is owned by institutional investors and hedge funds.
Apple Trading Down 0.7 %
Shares of AAPL stock opened at $152.95 on Tuesday. The business’s 50 day moving average is $143.05 and its two-hundred day moving average is $157.67. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company has a market capitalization of $2.48 trillion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 2.00 and a beta of 1.19. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53.
Apple (NASDAQ:AAPL – Get Rating) last announced its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.09. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company had revenue of $97.28 billion for the quarter, compared to the consensus estimate of $93.99 billion. During the same period last year, the business posted $1.40 EPS. The company’s revenue was up 8.6% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 6.09 EPS for the current year.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 9th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, May 6th. This is an increase from Apple’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. Apple’s payout ratio is 14.94%.
Apple announced that its board has authorized a share buyback plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Evercore ISI decreased their price objective on Apple from $210.00 to $180.00 and set an “outperform” rating for the company in a research note on Tuesday, June 28th. Morgan Stanley decreased their price objective on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Sanford C. Bernstein set a $170.00 price objective on Apple in a research note on Monday, May 2nd. Barclays decreased their price objective on Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 13th. Finally, Citigroup decreased their price objective on Apple from $200.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.73.
Insider Activity at Apple
In related news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total value of $4,043,000.00. Following the sale, the senior vice president now directly owns 452,334 shares in the company, valued at $73,151,454.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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