TCP Asset Management LLC Has $2.29 Million Stake in Apple Inc. (NASDAQ:AAPL)

TCP Asset Management LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,808 shares of the iPhone maker’s stock after purchasing an additional 185 shares during the quarter. Apple accounts for about 0.5% of TCP Asset Management LLC’s portfolio, making the stock its 25th biggest position. TCP Asset Management LLC’s holdings in Apple were worth $2,285,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AAPL. Concord Wealth Partners lifted its position in Apple by 3.4% in the 3rd quarter. Concord Wealth Partners now owns 78,496 shares of the iPhone maker’s stock valued at $18,290,000 after acquiring an additional 2,547 shares in the last quarter. Yeomans Consulting Group Inc. boosted its position in shares of Apple by 11.1% during the third quarter. Yeomans Consulting Group Inc. now owns 10,453 shares of the iPhone maker’s stock worth $2,436,000 after buying an additional 1,044 shares during the period. Asahi Life Asset Management CO. LTD. raised its position in Apple by 5.4% in the 3rd quarter. Asahi Life Asset Management CO. LTD. now owns 41,350 shares of the iPhone maker’s stock valued at $9,635,000 after buying an additional 2,118 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Apple by 0.5% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 96,685 shares of the iPhone maker’s stock valued at $22,528,000 after acquiring an additional 490 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE boosted its position in Apple by 22.5% during the 3rd quarter. Smithbridge Asset Management Inc. DE now owns 171,895 shares of the iPhone maker’s stock worth $40,052,000 after acquiring an additional 31,608 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on AAPL shares. Morgan Stanley restated an “overweight” rating and set a $273.00 target price on shares of Apple in a report on Friday, December 13th. Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Apple in a report on Tuesday, December 10th. Maxim Group increased their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Finally, UBS Group reiterated a “neutral” rating and set a $236.00 price objective on shares of Apple in a research note on Monday, December 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.47.

Apple Stock Down 1.3 %

NASDAQ AAPL opened at $255.59 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The stock has a market capitalization of $3.86 trillion, a PE ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23. The business has a fifty day moving average price of $237.41 and a two-hundred day moving average price of $227.79.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the company earned $1.46 EPS. Apple’s revenue was up 6.1% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. Apple’s dividend payout ratio (DPR) is 16.45%.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following 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. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 508,170 shares of company stock worth $117,004,745 over the last quarter. Company 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.