Tower Wealth Partners Inc. Has $2.67 Million Stake in Apple Inc. (NASDAQ:AAPL)

Tower Wealth Partners Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,457 shares of the iPhone maker’s stock after selling 218 shares during the period. Apple accounts for approximately 1.6% of Tower Wealth Partners Inc.’s investment portfolio, making the stock its 12th biggest position. Tower Wealth Partners Inc.’s holdings in Apple were worth $2,669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. International Assets Investment Management LLC increased its position in shares of Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after buying an additional 93,886,664 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after acquiring an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after purchasing an additional 3,245,281 shares during the period. American Century Companies Inc. lifted its stake in shares of Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after purchasing an additional 1,065,759 shares during the period. Finally, Swedbank AB boosted its position in shares of Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after purchasing an additional 2,359,409 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of AAPL stock opened at $243.36 on Friday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The firm’s 50-day simple moving average is $238.91 and its two-hundred day simple moving average is $228.87. The firm has a market cap of $3.68 trillion, a price-to-earnings ratio of 40.03, a P/E/G ratio of 2.41 and a beta of 1.20. 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 posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AAPL shares. Piper Sandler reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Tuesday, December 10th. Evercore ISI reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Finally, 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. Two equities 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $238.03.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following 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 disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Apple 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.