TCI Wealth Advisors Inc. Has $27.64 Million Holdings in Apple Inc. $AAPL

Key Points

• TCI Wealth Advisors Inc. reduced its holdings in Apple Inc. by 3.3% during Q2, now holding 134,733 shares valued at approximately $27.64 million, making it the fund's 14th largest holding.
• Multiple analysts have raised their target prices for Apple, with consensus ratings indicating a "Moderate Buy" and an average target price of $248.29.
• Insiders at Apple, including CEO Timothy D. Cook, sold significant shares recently, with total transactions exceeding $64 million over the last quarter.

TCI Wealth Advisors Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 134,733 shares of the iPhone maker's stock after selling 4,531 shares during the quarter. Apple comprises 1.9% of TCI Wealth Advisors Inc.'s investment portfolio, making the stock its 14th largest holding. TCI Wealth Advisors Inc.'s holdings in Apple were worth $27,643,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Blue Oak Capital LLC lifted its holdings in shares of Apple by 77.5% during the second quarter. Blue Oak Capital LLC now owns 8,635 shares of the iPhone maker's stock worth $1,772,000 after buying an additional 3,771 shares during the last quarter. Legend Financial Advisors Inc. lifted its holdings in shares of Apple by 40.6% during the second quarter. Legend Financial Advisors Inc. now owns 11,211 shares of the iPhone maker's stock worth $2,300,000 after buying an additional 3,237 shares during the last quarter. CX Institutional lifted its holdings in shares of Apple by 9.6% during the second quarter. CX Institutional now owns 208,224 shares of the iPhone maker's stock worth $42,721,000 after buying an additional 18,246 shares during the last quarter. American National Bank & Trust lifted its holdings in shares of Apple by 2.4% during the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker's stock worth $40,107,000 after buying an additional 4,543 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG lifted its holdings in shares of Apple by 6.1% during the second quarter. Bank Pictet & Cie Europe AG now owns 315,639 shares of the iPhone maker's stock worth $64,760,000 after buying an additional 18,033 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AAPL shares. Monness Crespi & Hardt upped their target price on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Rosenblatt Securities upped their target price on Apple from $223.00 to $241.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. BMO Capital Markets restated a "buy" rating on shares of Apple in a research note on Wednesday, August 13th. The Goldman Sachs Group restated a "buy" rating and issued a $266.00 target price on shares of Apple in a research note on Tuesday, August 26th. Finally, DA Davidson restated a "neutral" rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 11th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $248.29.

Insider Transactions at Apple

In other news, SVP Deirdre O'brien sold 43,013 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the sale, the senior vice president owned 136,687 shares in the company, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the sale, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,922 shares of company stock worth $64,320,190. Insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $245.27 on Friday. The business's fifty day moving average price is $237.61 and its two-hundred day moving average price is $215.92. 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 $3.64 trillion, a price-to-earnings ratio of 37.22, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is presently 15.78%.

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.

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