TCP Asset Management LLC Purchases 185 Shares of Apple Inc. (NASDAQ:AAPL)

TCP Asset Management LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,808 shares of the iPhone maker’s stock after buying an additional 185 shares during the quarter. Apple makes up about 0.5% of TCP Asset Management LLC’s holdings, making the stock its 25th biggest position. TCP Asset Management LLC’s holdings in Apple were worth $2,285,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bull Oak Capital LLC boosted its position in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new position in Apple during the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc raised its stake in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. Cordant Inc. boosted its holdings in Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares during the period. Finally, Sage Financial Group Inc. acquired a new stake in Apple in the 2nd quarter worth $206,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % 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 in the last quarter. 0.06% of the stock is owned by company insiders.

Apple Stock Down 1.3 %

NASDAQ:AAPL opened at $255.59 on Friday. The company has a market cap of $3.86 trillion, a price-to-earnings ratio of 42.04, a P/E/G 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. The stock’s fifty day moving average price is $237.41 and its two-hundred day moving average price is $227.79. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last released 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. The company 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%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.46 earnings per share. On average, 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 $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 presently 16.45%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AAPL. Piper Sandler reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Wedbush upped their target price on Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and raised their target price for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Two research 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 assigned a strong buy rating to the company. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $237.47.

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.