Tandem Capital Management Corp ADV Trims Stake in Apple Inc. (NASDAQ:AAPL)

Tandem Capital Management Corp ADV reduced its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 3.3% during the 3rd quarter, Holdings Channel reports. The firm owned 28,083 shares of the iPhone maker’s stock after selling 970 shares during the period. Apple makes up 3.5% of Tandem Capital Management Corp ADV’s holdings, making the stock its 6th biggest holding. Tandem Capital Management Corp ADV’s holdings in Apple were worth $4,136,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Apple by 2.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 237,910,783 shares of the iPhone maker’s stock worth $32,527,162,000 after purchasing an additional 4,831,418 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Apple by 8.2% in the 2nd quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock worth $16,889,649,000 after purchasing an additional 9,411,018 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Apple by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after purchasing an additional 1,155,915 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Apple by 12.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock worth $11,001,469,000 after purchasing an additional 8,716,964 shares during the last quarter. 57.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Canaccord Genuity Group reduced their target price on Apple from $200.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday. Credit Suisse Group reiterated a “buy” rating and set a $184.00 target price on shares of Apple in a report on Wednesday. JPMorgan Chase & Co. set a $180.00 target price on Apple and gave the stock an “overweight” rating in a report on Thursday. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Finally, Wedbush reduced their target price on Apple from $200.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, January 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $166.73.

Insider Activity at Apple

In related news, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the sale, the insider now directly owns 31,505 shares in the company, valued at $4,685,423.60. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 20,200 shares of the stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the sale, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Up 1.9 %

Shares of NASDAQ:AAPL opened at $137.87 on Friday. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $179.61. The stock has a market cap of $2.18 trillion, a PE ratio of 22.56, a P/E/G ratio of 1.74 and a beta of 1.24. The business has a 50 day moving average of $138.72 and a 200-day moving average of $148.09. 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 issued its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 6.19 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Friday, November 4th. Apple’s dividend payout ratio (DPR) is currently 15.06%.

Apple Profile

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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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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