Tobam Sells 3,642 Shares of Apple Inc. $AAPL

Tobam trimmed its position in Apple Inc. (NASDAQ:AAPL) by 58.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,573 shares of the iPhone maker’s stock after selling 3,642 shares during the period. Tobam’s holdings in Apple were worth $528,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC grew its position in Apple by 573,627.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after buying an additional 205,656,808 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Apple in the 1st quarter valued at about $17,472,482,000. Northern Trust Corp grew its holdings in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. Amundi increased its position in shares of Apple by 27.4% in the first quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after purchasing an additional 14,651,321 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after purchasing an additional 13,137,968 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Down 0.7%

AAPL opened at $278.78 on Friday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $288.62. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average price is $266.03 and its 200-day moving average price is $234.07. The company has a market cap of $4.12 trillion, a P/E ratio of 37.32, a P/E/G ratio of 2.62 and a beta of 1.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.Apple’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.64 EPS. On average, equities analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s dividend payout ratio (DPR) is 13.92%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a report on Wednesday. Wells Fargo & Company set a $300.00 target price on shares of Apple and gave the stock an “overweight” rating in a research report on Friday, October 31st. Phillip Securities downgraded Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target on the stock. in a research report on Thursday, September 11th. Argus set a $325.00 price target on Apple and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Bank of America increased their price objective on Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $280.09.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 3,752 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the transaction, the insider owned 15,098 shares of the company’s stock, valued at $4,095,030.54. This represents a 19.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 228,052 shares of company stock valued at $58,604,588. Company 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.