TFB Advisors LLC Grows Stock Position in Apple Inc. (NASDAQ:AAPL)

TFB Advisors LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 17.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,652 shares of the iPhone maker’s stock after buying an additional 4,181 shares during the period. Apple accounts for about 2.0% of TFB Advisors LLC’s holdings, making the stock its 7th biggest holding. TFB Advisors LLC’s holdings in Apple were worth $6,035,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AAPL. Brown Financial Advisory grew its stake in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after buying an additional 50 shares in the last quarter. Core Wealth Management Inc. boosted its holdings in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares during the period. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after acquiring an additional 51 shares during the period. Foresight Capital Management Advisors Inc. grew its position in shares of Apple by 0.3% in the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after purchasing an additional 55 shares in the last quarter. Finally, Altus Wealth Management LLC raised its stake in shares of Apple by 0.6% during the 2nd quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock valued at $2,002,000 after purchasing an additional 55 shares during the period. 60.41% of the stock is currently owned by institutional investors.

Apple Trading Up 1.7 %

NASDAQ AAPL opened at $229.54 on Thursday. The firm has a market cap of $3.52 trillion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The stock has a 50-day moving average of $223.10 and a 200-day moving average of $204.97. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 earnings per share. As a group, sell-side analysts forecast that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is currently 15.55%.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 in the last quarter. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AAPL shares. Wedbush reaffirmed an “outperform” rating and set a $285.00 target price on shares of Apple in a report on Monday, September 9th. Piper Sandler Companies reaffirmed a “neutral” rating and set a $225.00 price objective (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Melius Research reaffirmed a “buy” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. Cfra raised their price target on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Tigress Financial upped their price target on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $239.27.

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.