TFC Financial Management Has $6.80 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

TFC Financial Management lowered its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.2% in the second quarter, Holdings Channel.com reports. The firm owned 49,720 shares of the iPhone maker’s stock after selling 123 shares during the period. Apple comprises approximately 2.0% of TFC Financial Management’s investment portfolio, making the stock its 8th largest position. TFC Financial Management’s holdings in Apple were worth $6,798,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Cooper Financial Group raised its holdings in shares of Apple by 2.2% during the first quarter. Cooper Financial Group now owns 114,581 shares of the iPhone maker’s stock worth $20,007,000 after acquiring an additional 2,516 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Apple by 20.0% during the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after acquiring an additional 435,891 shares in the last quarter. Ironwood Wealth Management LLC. raised its holdings in shares of Apple by 0.4% during the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after acquiring an additional 1,040 shares in the last quarter. Harbor Group Inc. raised its holdings in shares of Apple by 9.4% during the first quarter. Harbor Group Inc. now owns 9,870 shares of the iPhone maker’s stock worth $1,723,000 after acquiring an additional 845 shares in the last quarter. Finally, Segment Wealth Management LLC raised its holdings in shares of Apple by 1.4% during the first quarter. Segment Wealth Management LLC now owns 149,849 shares of the iPhone maker’s stock worth $26,165,000 after acquiring an additional 2,082 shares in the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Apple Stock Up 0.4 %

AAPL stock opened at $151.29 on Monday. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company has a market cap of $2.41 trillion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 1.93 and a beta of 1.25. The business’s 50-day simple moving average is $147.08 and its 200 day simple moving average is $149.77. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. The company had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 earnings per share. On average, research analysts anticipate that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed 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. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s payout ratio is 15.06%.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent research reports. Bank Of America (Bofa) lowered Apple from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $189.00 to $160.00 in a report on Friday, September 30th. Monness Crespi & Hardt initiated coverage on Apple in a report on Thursday, September 8th. They set a “buy” rating and a $174.00 price objective for the company. Fundamental Research increased their price objective on Apple to $168.50 and gave the stock a “buy” rating in a report on Tuesday, November 8th. Itau BBA Securities initiated coverage on Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price on the stock. Finally, Wedbush cut their target price on Apple from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Two investment 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $176.26.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 176,299 shares of Apple stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the sale, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $19,374,986.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 360,651 shares of company stock valued at $53,703,645. 0.06% of the stock is currently owned by corporate insiders.

Apple Company 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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