Tennessee Valley Asset Management Partners Sells 530 Shares of Apple Inc. (NASDAQ:AAPL)

Tennessee Valley Asset Management Partners trimmed its position in Apple Inc. (NASDAQ:AAPL) by 2.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 25,003 shares of the iPhone maker’s stock after selling 530 shares during the quarter. Apple accounts for approximately 1.0% of Tennessee Valley Asset Management Partners’ investment portfolio, making the stock its 17th biggest holding. Tennessee Valley Asset Management Partners’ holdings in Apple were worth $6,261,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Bull Oak Capital LLC lifted its position in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new stake in Apple during the third quarter worth about $71,000. Christopher J. Hasenberg Inc grew its stake in Apple by 88.9% in the third 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 in the last quarter. Teachers Insurance & Annuity Association of America bought a new position in Apple in the third quarter valued at approximately $77,000. Finally, ARK Investment Management LLC acquired a new position in shares of Apple during the 3rd quarter worth approximately $110,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ AAPL opened at $215.24 on Thursday. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10. The stock has a market cap of $3.23 trillion, a PE ratio of 34.17, a PEG ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm’s fifty day moving average price is $232.76 and its two-hundred day moving average price is $233.47.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Maxim Group lifted their price objective on shares of Apple to $215.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $262.00 price objective on shares of Apple in a research report on Monday, January 27th. Argus raised shares of Apple to a “strong-buy” rating in a research report on Friday, January 31st. Bank of America lifted their target price on shares of Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Morgan Stanley lowered their price target on shares of Apple from $275.00 to $252.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $243.65.

Apple Profile

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.