Apple Inc. (NASDAQ:AAPL) Shares Sold by Tobam

Tobam decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 40.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,825 shares of the iPhone maker’s stock after selling 8,634 shares during the quarter. Tobam’s holdings in Apple were worth $2,701,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Fidelis Capital Partners LLC raised its position in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple during the 4th quarter worth approximately $39,000. Access Investment Management LLC acquired a new stake in Apple in the 1st quarter valued at approximately $140,000. Hoese & Co LLP lifted its stake in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares in the last quarter. Finally, Benchmark Wealth Management LLC acquired a new position in Apple during the 2nd quarter worth about $208,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AAPL shares. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Thursday, September 19th. Evercore ISI reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Wedbush reiterated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a research report on Monday, September 9th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Finally, StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $239.27.

Apple Stock Performance

Shares of AAPL stock opened at $231.30 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock’s 50-day moving average price is $224.06 and its 200 day moving average price is $206.60. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The stock has a market capitalization of $3.55 trillion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the prior year, the firm posted $1.26 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

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.