Apple Inc. (NASDAQ:AAPL) Stake Cut by TFG Advisers LLC

TFG Advisers LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 77,800 shares of the iPhone maker’s stock after selling 2,296 shares during the quarter. Apple comprises approximately 6.5% of TFG Advisers LLC’s portfolio, making the stock its largest holding. TFG Advisers LLC’s holdings in Apple were worth $18,127,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hershey Financial Advisers LLC acquired a new stake in Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc raised its stake in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the last quarter. Cordant Inc. lifted its holdings in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares during the period. Hoese & Co LLP grew its position in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. purchased a new position in Apple in the 2nd quarter valued at $206,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 1.9 %

Shares of NASDAQ AAPL opened at $254.49 on Friday. The firm has a market cap of $3.85 trillion, a P/E ratio of 41.86, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. 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 1 year low of $164.07 and a 1 year high of $255.00. The firm’s 50 day moving average price is $234.97 and its 200 day moving average price is $225.48.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock valued at $117,004,745 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

AAPL has been the subject of several recent analyst reports. New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a report on Friday, October 25th. Tigress Financial lifted their price objective on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 target price on shares of Apple in a research report on Monday, September 9th. Finally, Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $236.78.

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.