Toronto Dominion Bank Has $1.84 Billion Stake in Apple Inc. (NASDAQ:AAPL)

Toronto Dominion Bank lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 21.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,912,954 shares of the iPhone maker’s stock after selling 2,113,949 shares during the quarter. Apple makes up 3.2% of Toronto Dominion Bank’s portfolio, making the stock its 4th biggest position. Toronto Dominion Bank owned 0.05% of Apple worth $1,843,718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its stake in Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the period. FMR LLC grew its stake in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares during the period. Geode Capital Management LLC grew its stake in Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Apple by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after purchasing an additional 5,893,741 shares during the period. Finally, International Assets Investment Management LLC grew its stake in Apple by 20,372.7% in 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 purchasing an additional 93,886,664 shares during the period. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Sanford C. Bernstein increased their target price on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Wells Fargo & Company increased their target price on Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Raymond James increased their target price on Apple to $250.00 and gave the stock a “buy” rating in a research note on Monday, January 20th. Rosenblatt Securities reissued a “buy” rating and issued a $262.00 target price on shares of Apple in a research note on Monday, January 27th. Finally, Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.52.

Apple Stock Up 2.0 %

NASDAQ AAPL opened at $241.53 on Friday. The stock’s 50-day moving average price is $240.70 and its 200-day moving average price is $231.34. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a market capitalization of $3.63 trillion, a P/E ratio of 38.34, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the 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 sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. 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.