Tennessee Valley Asset Management Partners Grows Stock Position in Apple Inc. (NASDAQ:AAPL)

Tennessee Valley Asset Management Partners raised its holdings in Apple Inc. (NASDAQ:AAPL) by 0.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,335 shares of the iPhone maker’s stock after purchasing an additional 114 shares during the period. Apple comprises approximately 0.9% of Tennessee Valley Asset Management Partners’ holdings, making the stock its 17th largest holding. Tennessee Valley Asset Management Partners’ holdings in Apple were worth $4,072,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Yeomans Consulting Group Inc. acquired a new stake in shares of Apple during the 4th quarter valued at approximately $1,713,000. Raleigh Capital Management Inc. raised its position in shares of Apple by 11.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after acquiring an additional 1,643 shares in the last quarter. GLOBALT Investments LLC GA acquired a new stake in shares of Apple during the 4th quarter valued at approximately $38,406,000. Barden Capital Management Inc. raised its position in shares of Apple by 132.8% during the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after acquiring an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC acquired a new stake in shares of Apple during the 4th quarter valued at approximately $4,782,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ AAPL opened at $216.79 on Wednesday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The company has a 50 day simple moving average of $222.67 and a two-hundred day simple moving average of $199.26. The company has a market capitalization of $3.32 trillion, a price-to-earnings ratio of 33.72, a P/E/G ratio of 2.62 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 earnings per share. Analysts expect that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock worth $23,723,887 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on AAPL shares. Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and upped their price objective for the stock from $170.00 to $300.00 in a research note on Monday, July 15th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Cfra upped their price objective on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, TD Cowen upped their price objective on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $239.17.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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.