Telemus Capital LLC Trims Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Telemus Capital LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 264,189 shares of the iPhone maker’s stock after selling 6,823 shares during the period. Apple comprises approximately 4.0% of Telemus Capital LLC’s portfolio, making the stock its biggest holding. Telemus Capital LLC’s holdings in Apple were worth $46,130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AAPL. Segall Bryant & Hamill LLC grew its position in Apple by 2.4% during the third quarter. Segall Bryant & Hamill LLC now owns 1,293,356 shares of the iPhone maker’s stock valued at $183,007,000 after acquiring an additional 30,049 shares during the last quarter. New World Advisors LLC boosted its stake in shares of Apple by 8.0% during the third quarter. New World Advisors LLC now owns 23,520 shares of the iPhone maker’s stock valued at $3,497,000 after purchasing an additional 1,739 shares during the period. EagleClaw Capital Managment LLC boosted its stake in shares of Apple by 1.9% during the third quarter. EagleClaw Capital Managment LLC now owns 157,372 shares of the iPhone maker’s stock valued at $22,273,000 after purchasing an additional 2,926 shares during the period. Legacy Wealth Planning LLC boosted its stake in shares of Apple by 9.6% during the third quarter. Legacy Wealth Planning LLC now owns 33,659 shares of the iPhone maker’s stock valued at $4,763,000 after purchasing an additional 2,954 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Apple during the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 57.98% of the company’s stock.

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total value of $4,043,000.00. Following the transaction, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Deirdre O’brien sold 29,198 shares of the firm’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $177.77, for a total value of $5,190,528.46. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares in the company, valued at $24,228,273.30. The disclosure for this sale can be found here. Insiders sold 168,099 shares of company stock worth $29,376,711 over the last three months. Insiders own 0.06% of the company’s stock.

NASDAQ AAPL opened at $135.35 on Thursday. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The stock has a 50-day moving average of $149.10 and a 200 day moving average of $162.75. The company has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 21.97, a PEG ratio of 1.72 and a beta of 1.20. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, topping the consensus estimate of $1.43 by $0.09. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company had revenue of $97.28 billion during the quarter, compared to the consensus estimate of $93.99 billion. During the same period last year, the company earned $1.40 EPS. Apple’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities analysts predict that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple declared that its board has authorized a share buyback plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.68%. This is a boost from Apple’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, May 6th. Apple’s dividend payout ratio (DPR) is presently 14.94%.

A number of analysts have recently weighed in on the company. Rosenblatt Securities dropped their price objective on Apple from $184.00 to $168.00 and set a “neutral” rating for the company in a research note on Monday, May 2nd. Loop Capital dropped their price objective on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on Apple from $200.00 to $175.00 in a research note on Tuesday, June 14th. UBS Group set a $185.00 price target on Apple in a research note on Tuesday. Finally, Deutsche Bank Rese… set a $210.00 price target on Apple in a research note on Friday, April 8th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.55.

Apple Profile (Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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