Apple Inc. (NASDAQ:AAPL) Holdings Lifted by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,042 shares of the iPhone maker’s stock after purchasing an additional 3,312 shares during the period. Apple accounts for about 2.8% of TCI Wealth Advisors Inc.’s investment portfolio, making the stock its 8th largest position. TCI Wealth Advisors Inc.’s holdings in Apple were worth $33,562,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AAPL. Carolina Wealth Advisors LLC raised its stake in shares of Apple by 1.3% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after purchasing an additional 46 shares in the last quarter. Verus Financial Partners Inc. increased its holdings in Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after buying an additional 48 shares during the last quarter. Brown Financial Advisory raised its stake in Apple by 3.8% during the second 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. raised its stake in Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 50 shares in the last quarter. Finally, Lowery Thomas LLC grew its position in shares of Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In other Apple news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. The trade was a 35.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 508,170 shares of company stock worth $117,004,745 over the last 90 days. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research report on Friday, October 25th. Maxim Group increased their target price on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Tuesday, December 10th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Finally, Moffett Nathanson decreased their target price on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research note on Tuesday, November 19th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $237.47.

Apple Trading Down 1.3 %

Apple stock opened at $255.59 on Friday. The firm has a market cap of $3.86 trillion, a price-to-earnings ratio of 42.04, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The firm’s 50 day moving average price is $237.41 and its two-hundred day moving average price is $227.79. 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 (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.46 earnings per share. On average, research analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

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

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.