Apple Inc. (NASDAQ:AAPL) Shares Bought by TFC Financial Management Inc.

TFC Financial Management Inc. boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,910 shares of the iPhone maker’s stock after buying an additional 377 shares during the quarter. Apple makes up 2.0% of TFC Financial Management Inc.’s holdings, making the stock its 9th biggest position. TFC Financial Management Inc.’s holdings in Apple were worth $11,144,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AAPL. Christopher J. Hasenberg Inc purchased a new stake in Apple in the first quarter valued at $35,000. Fidelis Capital Partners LLC raised its holdings in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new position in Apple in the fourth quarter worth approximately $39,000. University of Texas Texas AM Investment Managment Co. grew its holdings in Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after acquiring an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. purchased a new stake in shares of Apple during the 4th quarter worth $85,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock valued at $23,723,887 over the last three months. Company insiders own 0.06% of the company’s stock.

Apple Trading Down 0.8 %

Shares of Apple stock opened at $226.47 on Tuesday. The business has a fifty day simple moving average of $222.25 and a 200-day simple moving average of $200.82. The firm has a market cap of $3.47 trillion, a price-to-earnings ratio of 35.22, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 EPS. On average, equities analysts forecast that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is 15.55%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Citigroup reaffirmed a “buy” rating and issued a $255.00 target price on shares of Apple in a research report on Tuesday, August 27th. TD Cowen lifted their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Barclays dropped their price target on shares of Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Piper Sandler reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Tuesday, September 10th. Finally, Tigress Financial upped their target price on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $239.17.

About Apple

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.