Tableaux LLC Takes $7.41 Million Position in Apple Inc. (NASDAQ:AAPL)

Tableaux LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 29,597 shares of the iPhone maker's stock, valued at approximately $7,412,000. Apple makes up approximately 6.1% of Tableaux LLC's holdings, making the stock its 3rd biggest position.

A number of other hedge funds have also modified their holdings of AAPL. Advanced Portfolio Management LLC grew its position in Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after acquiring an additional 47 shares during the last quarter. Hanseatic Management Services Inc. grew its position in Apple by 1.3% during the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after acquiring an additional 48 shares during the last quarter. Family Capital Management Inc. grew its position in Apple by 0.3% during the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after acquiring an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its position in Apple by 0.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after acquiring an additional 48 shares during the last quarter. Finally, Scarborough Advisors LLC grew its position in Apple by 0.3% during the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock worth $3,992,000 after acquiring an additional 51 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of research reports. Wedbush restated an "outperform" rating and set a $270.00 price objective on shares of Apple in a research report on Tuesday, June 10th. DA Davidson lifted their target price on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Monness Crespi & Hardt lifted their target price on Apple to $245.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Jefferies Financial Group reaffirmed an "underperform" rating and set a $170.62 target price (up from $167.88) on shares of Apple in a report on Friday, May 2nd. Finally, Bank of America reaffirmed a "buy" rating and set a $235.00 target price on shares of Apple in a report on Tuesday, June 10th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of "Moderate Buy" and an average price target of $234.86.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by company insiders.

Apple Stock Down 0.6%

Shares of AAPL stock traded down $1.20 during trading hours on Tuesday, reaching $200.30. The company had a trading volume of 53,951,325 shares, compared to its average volume of 53,512,318. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The business has a fifty day simple moving average of $202.33 and a 200-day simple moving average of $221.12. The company has a market cap of $2.99 trillion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.53 earnings per share. On average, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is 16.20%.

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

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.