TCI Wealth Advisors Inc. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,023 shares of the iPhone maker’s stock after acquiring an additional 1,162 shares during the quarter. Apple accounts for about 1.9% of TCI Wealth Advisors Inc.’s investment portfolio, making the stock its 10th biggest position. TCI Wealth Advisors Inc.’s holdings in Apple were worth $13,646,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. IFM Investors Pty Ltd boosted its stake in Apple by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after acquiring an additional 435,891 shares during the period. Ironwood Wealth Management LLC. boosted its position 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 buying an additional 1,040 shares during the period. Markel Corp boosted its position in shares of Apple by 0.7% during the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock worth $210,752,000 after buying an additional 8,450 shares during the period. Camden Capital LLC boosted its position in shares of Apple by 9.2% during the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock worth $27,305,000 after buying an additional 13,200 shares during the period. Finally, Harbor Island Capital LLC boosted its position in shares of Apple by 0.3% during the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock worth $23,629,000 after buying an additional 400 shares during the period. 57.60% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CFO Luca Maestri sold 200 shares of the company’s stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $164.92, for a total value of $32,984.00. Following the completion of the sale, the chief financial officer now directly owns 177,657 shares in the company, valued at $29,299,192.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, CFO Luca Maestri sold 200 shares of the business’s stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $164.92, for a total transaction of $32,984.00. Following the completion of the transaction, the chief financial officer now owns 177,657 shares of the company’s stock, valued at approximately $29,299,192.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,092 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $173.26, for a total transaction of $708,979.92. Following the transaction, the insider now directly owns 33,946 shares of the company’s stock, valued at approximately $5,881,483.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 439,529 shares of company stock worth $71,703,657. Corporate insiders own 0.06% of the company’s stock.
Apple Trading Up 0.7 %
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, beating the consensus estimate of $1.44 by $0.08. The business had revenue of $94.84 billion for the quarter, compared to analysts’ expectations of $92.84 billion. Apple had a net margin of 24.49% and a return on equity of 165.72%. Apple’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 5.99 EPS for the current fiscal year.
Apple declared that its board has initiated a stock buyback program on Thursday, May 4th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were issued a $0.24 dividend. The ex-dividend date was Friday, May 12th. This is a boost from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 0.55%. Apple’s dividend payout ratio is currently 16.30%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Apple from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Monness Crespi & Hardt boosted their target price on Apple from $174.00 to $188.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Apple from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, May 5th. UBS Group set a $180.00 target price on Apple in a report on Monday, April 3rd. Finally, Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a report on Monday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $174.74.
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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