Timber Creek Capital Management LLC Sells 344 Shares of Apple Inc. (NASDAQ:AAPL)

Timber Creek Capital Management LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,159 shares of the iPhone maker’s stock after selling 344 shares during the quarter. Apple comprises 3.6% of Timber Creek Capital Management LLC’s holdings, making the stock its 6th biggest position. Timber Creek Capital Management LLC’s holdings in Apple were worth $10,620,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kingdom Financial Group LLC. increased its position in Apple by 5.5% during the 3rd quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock worth $1,963,000 after purchasing an additional 598 shares in the last quarter. RFG Advisory LLC raised its holdings in Apple by 13.6% during the 3rd quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock worth $29,589,000 after purchasing an additional 20,737 shares during the last quarter. Headinvest LLC grew its holdings in Apple by 1.7% during the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after acquiring an additional 872 shares during the period. Tsfg LLC boosted its holdings in shares of Apple by 2.2% during the 3rd quarter. Tsfg LLC now owns 50,943 shares of the iPhone maker’s stock worth $8,722,000 after buying an additional 1,091 shares in the last quarter. Finally, State Street Corp increased its position in Apple by 0.5% in the 2nd quarter. State Street Corp now owns 578,897,858 shares of the iPhone maker’s stock valued at $112,288,818,000 after buying an additional 2,616,084 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple

In related news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 2.1 %

Shares of AAPL stock opened at $173.31 on Thursday. 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 Inc. has a 12-month low of $155.98 and a 12-month high of $199.62. The stock has a market capitalization of $2.68 trillion, a P/E ratio of 27.00, a P/E/G ratio of 2.06 and a beta of 1.29. The firm’s 50 day moving average is $181.68 and its 200 day moving average is $182.73.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The firm had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business posted $1.88 EPS. Research analysts expect that Apple Inc. will post 6.55 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s payout ratio is currently 14.95%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AAPL shares. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of Apple in a research note on Friday, February 2nd. Wedbush restated an “outperform” rating and set a $250.00 price target on shares of Apple in a research report on Thursday, March 21st. Morgan Stanley restated an “overweight” rating and set a $220.00 price target on shares of Apple in a research note on Friday, March 22nd. Piper Sandler Companies cut Apple to a “neutral” rating and decreased their price target for the company from $220.00 to $205.00 in a research report on Thursday, January 4th. Finally, Bank of America upgraded shares of Apple from a “neutral” rating to a “buy” rating and raised their price objective for the company from $208.00 to $225.00 in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.27.

Apple Company 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.