TAP Consulting LLC Has $4.87 Million Stake in Apple Inc. (NASDAQ:AAPL)

TAP Consulting LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,103 shares of the iPhone maker’s stock after purchasing an additional 645 shares during the quarter. Apple comprises 1.0% of TAP Consulting LLC’s holdings, making the stock its 28th biggest position. TAP Consulting LLC’s holdings in Apple were worth $4,866,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in AAPL. Vanguard Group Inc. lifted its stake in Apple by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after buying an additional 18,067,216 shares during the period. Capital International Investors increased its stake in shares of Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after acquiring an additional 2,474,887 shares during the last quarter. Jennison Associates LLC raised its position in shares of Apple by 1.7% in the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after acquiring an additional 485,873 shares during the period. Swedbank AB boosted its stake in Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after acquiring an additional 2,359,409 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Apple by 16.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock valued at $3,085,427,000 after purchasing an additional 2,594,138 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on AAPL. Bank of America reiterated a “buy” rating and issued a $256.00 target price on shares of Apple in a report on Thursday, October 3rd. Robert W. Baird lifted their target price on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Rosenblatt Securities restated a “buy” rating and issued a $261.00 price target on shares of Apple in a report on Tuesday, September 10th. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Finally, TD Cowen boosted their price objective on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $239.27.

Insider Activity

In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred 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 $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, 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 sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s 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 directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock valued at $114,786,399 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Up 1.1 %

NASDAQ:AAPL opened at $233.85 on Wednesday. The firm has a market capitalization of $3.59 trillion, a P/E ratio of 36.37, a PEG ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company’s 50-day simple moving average is $224.59 and its 200 day simple moving average is $207.04.

Apple (NASDAQ:AAPL) last issued 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 firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $1.26 earnings per share. As a group, analysts forecast that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

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.