Apple Inc. (NASDAQ:AAPL) is Tandem Capital Management Corp ADV’s 4th Largest Position

Tandem Capital Management Corp ADV trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,561 shares of the iPhone maker’s stock after selling 376 shares during the quarter. Apple makes up about 3.0% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 4th biggest position. Tandem Capital Management Corp ADV’s holdings in Apple were worth $5,956,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. High Net Worth Advisory Group LLC raised its position in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after purchasing an additional 1,066 shares in the last quarter. Granite Investment Partners LLC lifted its holdings in Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares during the period. Truist Financial Corp boosted its position in Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares in the last quarter. Sterling Investment Counsel LLC lifted its stake in shares of Apple by 3.8% during the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after purchasing an additional 2,565 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its stake in Apple by 5.2% in the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after purchasing an additional 95,235 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AAPL. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Loop Capital decreased their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Barclays lowered their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Friday, December 13th. Finally, Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price target on shares of Apple in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $237.47.

Apple Stock Down 0.7 %

Apple stock opened at $250.42 on Wednesday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The stock has a market capitalization of $3.79 trillion, a PE ratio of 41.19, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The business has a 50 day simple moving average of $238.02 and a 200-day simple moving average of $228.43.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. On average, analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. Apple’s payout ratio is currently 16.45%.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’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 transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This trade represents a 35.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 163,435 shares of company stock valued at $39,376,002. Corporate insiders own 0.06% of the company’s stock.

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.