Total Investment Management Inc. Raises Stock Position in Apple Inc. (NASDAQ:AAPL)

Total Investment Management Inc. increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 6.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,809 shares of the iPhone maker’s stock after purchasing an additional 1,984 shares during the period. Apple makes up 0.9% of Total Investment Management Inc.’s holdings, making the stock its 16th biggest position. Total Investment Management Inc.’s holdings in Apple were worth $7,644,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bull Oak Capital LLC raised its holdings in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC purchased a new position in Apple in the second quarter valued at $42,000. Christopher J. Hasenberg Inc increased its holdings in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares in the last quarter. ARK Investment Management LLC purchased a new position in Apple in the third quarter valued at $110,000. Finally, Cordant Inc. increased its holdings in Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was 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 owned by insiders.

Apple Stock Performance

Shares of AAPL stock opened at $229.98 on Monday. The firm’s 50 day moving average price is $241.01 and its 200-day moving average price is $230.72. 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 one year low of $164.07 and a one year high of $260.10. The firm has a market cap of $3.46 trillion, a P/E ratio of 37.83, a P/E/G ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the business posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict 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. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Friday, December 13th. Oppenheimer reissued a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research note on Friday, October 25th. Citigroup boosted their target price on shares of Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Bank of America reissued a “buy” rating and set a $256.00 target price on shares of Apple in a research note on Friday, January 3rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $239.85.

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.