Tyler Stone Wealth Management Boosts Position in Apple Inc. (NASDAQ:AAPL)

Tyler Stone Wealth Management lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 106.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,344 shares of the iPhone maker’s stock after acquiring an additional 60,081 shares during the quarter. Apple makes up approximately 5.1% of Tyler Stone Wealth Management’s holdings, making the stock its 2nd biggest position. Tyler Stone Wealth Management’s holdings in Apple were worth $27,108,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP lifted its holdings in Apple by 3.3% in the 3rd quarter. Baker Avenue Asset Management LP now owns 520,668 shares of the iPhone maker’s stock worth $121,316,000 after purchasing an additional 16,651 shares in the last quarter. Legacy Capital Wealth Partners LLC raised its position in shares of Apple by 1.7% during the third quarter. Legacy Capital Wealth Partners LLC now owns 26,346 shares of the iPhone maker’s stock valued at $6,139,000 after buying an additional 453 shares during the last quarter. FMB Wealth Management lifted its holdings in shares of Apple by 2.7% in the third quarter. FMB Wealth Management now owns 19,291 shares of the iPhone maker’s stock worth $4,495,000 after buying an additional 500 shares in the last quarter. Retirement Solution LLC boosted its position in shares of Apple by 165.3% during the third quarter. Retirement Solution LLC now owns 32,845 shares of the iPhone maker’s stock worth $7,653,000 after acquiring an additional 20,467 shares during the last quarter. Finally, Costello Asset Management INC grew its stake in Apple by 8.5% during the third quarter. Costello Asset Management INC now owns 7,939 shares of the iPhone maker’s stock valued at $1,850,000 after acquiring an additional 620 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 value 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. This represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on 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 directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Apple Trading Down 4.0 %

Apple stock opened at $228.26 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The company’s fifty day moving average price is $240.93 and its two-hundred day moving average price is $230.57. 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 company has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 37.54, a PEG ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AAPL shares. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Morgan Stanley reissued an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Friday, December 13th. Wedbush upped their price target on shares of Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, December 26th. Finally, Citigroup increased their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price 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.