TFC Financial Management Inc. Sells 480 Shares of Apple Inc. (NASDAQ:AAPL)

TFC Financial Management Inc. reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,921 shares of the iPhone maker’s stock after selling 480 shares during the period. Apple comprises about 2.0% of TFC Financial Management Inc.’s investment portfolio, making the stock its 9th biggest position. TFC Financial Management Inc.’s holdings in Apple were worth $9,996,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Wyrmwood Management LLC boosted its position in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares in the last quarter. Gilfoyle & Co LLC boosted its position in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares in the last quarter. PayPay Securities Corp boosted its position in Apple by 70.2% in the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after buying an additional 210 shares in the last quarter. Cordant Inc. boosted its position in Apple by 27.7% in the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after buying an additional 140 shares in the last quarter. Finally, Life Planning Partners Inc acquired a new position in Apple in the fourth quarter valued at about $132,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AAPL shares. Morgan Stanley reduced their price target on shares of Apple from $220.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Wedbush reaffirmed an “outperform” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, April 9th. Sanford C. Bernstein raised shares of Apple from a “market perform” rating to an “outperform” rating and set a $195.00 target price for the company in a research note on Monday. Barclays reaffirmed an “underweight” rating and issued a $158.00 target price on shares of Apple in a research note on Tuesday, April 23rd. Finally, Robert W. Baird boosted their target price on shares of Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $202.62.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The disclosure for this sale can be found here. Over the last three months, insiders have sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Shares of AAPL opened at $169.30 on Thursday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The firm has a fifty day simple moving average of $172.38 and a 200 day simple moving average of $181.63. The stock has a market capitalization of $2.61 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 2.09 and a beta of 1.27. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping the consensus estimate of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 6.54 EPS for the current fiscal year.

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.