TMD Wealth Management LLC Cuts Stake in Apple Inc. (NASDAQ:AAPL)

TMD Wealth Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 9.1% during the second quarter, Holdings Channel.com reports. The firm owned 21,959 shares of the iPhone maker’s stock after selling 2,195 shares during the quarter. Apple accounts for 1.0% of TMD Wealth Management LLC’s investment portfolio, making the stock its 19th largest holding. TMD Wealth Management LLC’s holdings in Apple were worth $4,625,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. GoalVest Advisory LLC boosted its holdings in Apple by 53.1% during the 1st quarter. GoalVest Advisory LLC now owns 10,835 shares of the iPhone maker’s stock valued at $1,858,000 after acquiring an additional 3,757 shares during the period. Key Client Fiduciary Advisors LLC lifted its position in Apple by 6.1% in the first quarter. Key Client Fiduciary Advisors LLC now owns 49,858 shares of the iPhone maker’s stock valued at $8,550,000 after purchasing an additional 2,886 shares during the last quarter. Aletheian Wealth Advisors LLC boosted its stake in shares of Apple by 71.0% during the first quarter. Aletheian Wealth Advisors LLC now owns 26,776 shares of the iPhone maker’s stock valued at $4,592,000 after purchasing an additional 11,116 shares during the period. Visionary Horizons LLC grew its holdings in shares of Apple by 1.4% in the first quarter. Visionary Horizons LLC now owns 4,780 shares of the iPhone maker’s stock worth $844,000 after purchasing an additional 66 shares during the last quarter. Finally, Matrix Asset Advisors Inc. NY increased its stake in shares of Apple by 0.3% in the first quarter. Matrix Asset Advisors Inc. NY now owns 139,292 shares of the iPhone maker’s stock worth $23,886,000 after buying an additional 432 shares during the period. 60.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Raymond James increased their price target on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Loop Capital increased their target price on shares of Apple to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Evercore ISI restated a “buy” rating and set a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Tigress Financial increased their price objective on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Finally, TD Cowen lifted their price objective on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $235.91.

Apple Trading Down 1.8 %

Apple stock opened at $225.91 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The company has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 34.39, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The business’s fifty day simple moving average is $227.26 and its two-hundred day simple moving average is $211.69. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

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

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s payout ratio is 15.22%.

Insider Activity at Apple

In related news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Apple news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. 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.

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.