Tributary Capital Management LLC Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Tributary Capital Management LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,967 shares of the iPhone maker’s stock after selling 110 shares during the quarter. Tributary Capital Management LLC’s holdings in Apple were worth $4,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in AAPL. RDA Financial Network boosted its holdings in Apple by 2.8% in the 2nd quarter. RDA Financial Network now owns 40,786 shares of the iPhone maker’s stock worth $8,590,000 after buying an additional 1,124 shares during the period. Linden Thomas Advisory Services LLC grew its position in shares of Apple by 15.4% in the second quarter. Linden Thomas Advisory Services LLC now owns 38,082 shares of the iPhone maker’s stock valued at $8,021,000 after purchasing an additional 5,077 shares in the last quarter. NBC Securities Inc. grew its position in shares of Apple by 0.7% in the second quarter. NBC Securities Inc. now owns 189,197 shares of the iPhone maker’s stock valued at $39,848,000 after purchasing an additional 1,285 shares in the last quarter. Burkett Financial Services LLC raised its stake in shares of Apple by 0.9% during the 2nd quarter. Burkett Financial Services LLC now owns 14,024 shares of the iPhone maker’s stock valued at $2,954,000 after purchasing an additional 126 shares during the period. Finally, Greenfield Savings Bank lifted its holdings in Apple by 0.5% during the 2nd quarter. Greenfield Savings Bank now owns 68,568 shares of the iPhone maker’s stock worth $14,442,000 after purchasing an additional 338 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent analyst reports. UBS Group reaffirmed a “neutral” rating and set a $236.00 target price on shares of Apple in a report on Monday, December 2nd. Wells Fargo & Company raised their price target on shares of Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Bank of America upped their price target on shares of Apple to $256.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. New Street Research reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Finally, KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $237.47.

Apple Trading Down 1.3 %

Shares of AAPL opened at $255.59 on Friday. The stock has a market capitalization of $3.86 trillion, a P/E ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a fifty day simple moving average of $237.41 and a two-hundred day simple moving average of $227.65.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the business posted $1.46 earnings per share. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts anticipate that Apple Inc. will post 7.43 EPS 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple 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 directly owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The stock was 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 owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock worth $117,004,745 over the last quarter. 0.06% of the stock is owned by corporate insiders.

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.