Tiedemann Advisors LLC lessened its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 29.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 117,469 shares of the iPhone maker’s stock after selling 48,036 shares during the quarter. Apple comprises 1.2% of Tiedemann Advisors LLC’s holdings, making the stock its 16th biggest position. Tiedemann Advisors LLC’s holdings in Apple were worth $16,061,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Aaron Wealth Advisors LLC grew its position in Apple by 30,391.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock valued at $149,333,000 after buying an additional 25,989,570 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Apple by 31.7% during the 1st quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock valued at $6,793,041,000 after purchasing an additional 9,354,484 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares in the last quarter. Swiss National Bank boosted its position in shares of Apple by 13.1% during the 1st quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock valued at $12,407,910,000 after purchasing an additional 8,230,300 shares in the last quarter. Finally, CFS Investment Advisory Services LLC boosted its position in shares of Apple by 18,263.5% during the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after purchasing an additional 7,416,445 shares in the last quarter. Institutional investors own 57.72% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently weighed in on AAPL shares. JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a research report on Monday, November 14th. Sanford C. Bernstein set a $170.00 price objective on shares of Apple in a research report on Monday, September 12th. Fundamental Research raised their price objective on shares of Apple to $168.50 and gave the company a “buy” rating in a research report on Tuesday, November 8th. Wedbush reduced their price objective on shares of Apple from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Finally, KeyCorp reaffirmed a “buy” rating and set a $175.00 price objective on shares of Apple in a research note on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $176.26.
Apple Trading Up 0.4 %
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.27 by $0.02. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. During the same quarter last year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts forecast that Apple Inc. will post 6.26 EPS for the current fiscal year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 annualized dividend and a yield of 0.61%. Apple’s dividend payout ratio (DPR) is presently 15.06%.
Insider Buying and Selling at Apple
In other news, SVP Deirdre O’brien sold 176,299 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $142.16, for a total value of $25,062,665.84. Following the sale, the senior vice president now owns 136,290 shares in the company, valued at $19,374,986.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 360,651 shares of company stock worth $53,703,645 over the last 90 days. Insiders own 0.06% of the company’s stock.
Apple Company Profile
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.
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