Tandem Capital Management Corp ADV Has $4.90 Million Stake in Apple Inc. (NASDAQ:AAPL)

Key Points

• Tandem Capital Management Corp ADV reduced its stake in Apple Inc. by 12.7%, now holding 22,038 shares valued at approximately $4.9 million, making Apple its 8th largest position.
• Several hedge funds adjusted their holdings in Apple, with notable increases from Avid Wealth Partners LLC (up 28.3%) and Allstate Corp (up 3,368.2%), indicating growing institutional interest in the stock.
• Apple announced a quarterly dividend of $0.26 per share alongside a share buyback authorization of $100 billion, reflecting confidence in its stock valuation.

Tandem Capital Management Corp ADV trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 12.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 22,038 shares of the iPhone maker's stock after selling 3,196 shares during the period. Apple comprises approximately 2.7% of Tandem Capital Management Corp ADV's holdings, making the stock its 8th largest holding. Tandem Capital Management Corp ADV's holdings in Apple were worth $4,895,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in Apple in the fourth quarter worth $47,000. Conquis Financial LLC bought a new stake in Apple in the 4th quarter valued at approximately $63,000. LSV Asset Management bought a new position in shares of Apple in the 4th quarter valued at about $65,000. Pillar Financial Advisors LLC acquired a new stake in shares of Apple in the fourth quarter valued at about $82,000. Finally, Compass Planning Associates Inc bought a new stake in Apple during the fourth quarter worth about $96,000. Institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. Rosenblatt Securities restated a "neutral" rating and issued a $217.00 price target on shares of Apple in a research note on Tuesday, July 29th. UBS Group boosted their target price on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Wedbush reissued an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research report on Wednesday, July 30th. Finally, Scotiabank downgraded shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $237.25.

Apple Trading Up 0.8%

AAPL traded up $1.60 during trading on Monday, reaching $203.98. 34,222,488 shares of the stock traded hands, compared to its average volume of 56,844,102. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock's 50-day moving average is $205.37 and its 200 day moving average is $213.50. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a market capitalization of $3.05 trillion, a PE ratio of 30.93, a P/E/G ratio of 2.20 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period in the previous year, the firm earned $1.40 earnings per share. The company's revenue was up 9.6% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.

About Apple

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.