Apple Inc. (NASDAQ:AAPL) is Tevis Investment Management’s 3rd Largest Position

Tevis Investment Management lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.2% in the 3rd quarter, Holdings Channel reports. The firm owned 25,520 shares of the iPhone maker’s stock after acquiring an additional 1,024 shares during the period. Apple comprises 4.4% of Tevis Investment Management’s investment portfolio, making the stock its 3rd largest holding. Tevis Investment Management’s holdings in Apple were worth $5,946,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Bull Oak Capital LLC raised its stake in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC bought a new position in shares of Apple during the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc grew its holdings in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. Cordant Inc. raised its position in Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares during the period. Finally, Sage Financial Group Inc. bought a new stake in Apple in the second quarter worth $206,000. 67.73% of the stock is owned by institutional investors.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 163,435 shares of company stock valued at $39,376,002 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Shares of Apple stock opened at $250.42 on Thursday. The stock has a market cap of $3.79 trillion, a price-to-earnings ratio of 41.19, a PEG ratio of 2.41 and a beta of 1.23. 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 1 year low of $164.07 and a 1 year high of $260.10. The firm’s 50-day moving average is $238.41 and its 200 day moving average is $228.58.

Apple (NASDAQ:AAPL) last posted 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 net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Apple in a report on Tuesday, December 10th. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and lifted their price target for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Evercore ISI reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Barclays decreased their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Finally, New Street Research reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Two 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 company has an average rating of “Moderate Buy” and an average price target of $237.47.

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.