Apple Inc. $AAPL Holdings Lowered by Tompkins Financial Corp

Key Points

• Tompkins Financial Corp has reduced its holdings in Apple Inc. by 3.5%, now owning 198,841 shares valued at approximately $40.8 million.
• Apple's earnings report exceeded expectations, with an EPS of $1.57 and revenue of $94.04 billion, marking a 9.6% year-over-year increase.
• The company declared a quarterly dividend of $0.26 per share, resulting in an annualized dividend yield of 0.4%.

Tompkins Financial Corp reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,841 shares of the iPhone maker's stock after selling 7,259 shares during the period. Apple comprises 3.8% of Tompkins Financial Corp's investment portfolio, making the stock its 6th biggest position. Tompkins Financial Corp's holdings in Apple were worth $40,796,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Burkett Financial Services LLC increased its holdings in Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock valued at $3,199,000 after acquiring an additional 93 shares in the last quarter. Avid Wealth Partners LLC grew its position in shares of Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after purchasing an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC grew its position in shares of Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock valued at $13,772,000 after purchasing an additional 240 shares during the last quarter. OneAscent Wealth Management LLC increased its stake in shares of Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after purchasing an additional 409 shares in the last quarter. Finally, Andina Capital Management LLC raised its position in shares of Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker's stock worth $1,507,000 after purchasing an additional 4,591 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AAPL shares. Monness Crespi & Hardt increased their target price on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Barclays upped their price objective on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Morgan Stanley set a $240.00 price objective on Apple and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Citigroup reiterated a "buy" rating on shares of Apple in a research report on Wednesday, September 10th. Finally, BMO Capital Markets restated a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $244.66.

Apple Stock Up 1.8%

AAPL opened at $256.87 on Friday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The business has a 50-day moving average of $227.98 and a two-hundred day moving average of $212.99. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $3.81 trillion, a price-to-earnings ratio of 38.98, a price-to-earnings-growth ratio of 2.62 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same period last year, the company earned $1.40 earnings per share. The company's quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio (DPR) is 15.78%.

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.

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