TCV Trust & Wealth Management Inc. Reduces Stock Holdings in Apple Inc. $AAPL

Key Points

• TCV Trust & Wealth Management Inc. has reduced its stake in Apple Inc. by 0.6%, selling 1,027 shares during the 2nd quarter, leaving it with 164,944 shares valued at approximately $33.84 million.
• Multiple large investors have increased their stakes in Apple, with Livforsakringsbolaget Skandia Omsesidigt raising theirs by 17.1%, and Kingstone Capital Partners Texas LLC experiencing a significant increase of 573,627.2%.
• Analysts have set varying target prices for Apple, with Evercore ISI and Melius Research both targeting $290, indicating a consensus rating of "Moderate Buy" along with an average target price of $245.66.

TCV Trust & Wealth Management Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 164,944 shares of the iPhone maker's stock after selling 1,027 shares during the period. Apple makes up about 3.0% of TCV Trust & Wealth Management Inc.'s investment portfolio, making the stock its 7th largest holding. TCV Trust & Wealth Management Inc.'s holdings in Apple were worth $33,842,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Apple by 17.1% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 662,135 shares of the iPhone maker's stock valued at $135,771,000 after purchasing an additional 96,800 shares during the period. Matthew Goff Investment Advisor LLC raised its stake in Apple by 13.1% during the 2nd quarter. Matthew Goff Investment Advisor LLC now owns 7,010 shares of the iPhone maker's stock valued at $1,438,000 after purchasing an additional 814 shares during the period. Kingstone Capital Partners Texas LLC raised its stake in Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker's stock valued at $39,065,374,000 after purchasing an additional 205,656,808 shares during the period. IFM Investors Pty Ltd raised its stake in Apple by 3.7% during the 2nd quarter. IFM Investors Pty Ltd now owns 2,932,508 shares of the iPhone maker's stock valued at $601,663,000 after purchasing an additional 105,632 shares during the period. Finally, Pioneer Wealth Management Group acquired a new stake in Apple during the 2nd quarter valued at $316,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AAPL shares. Evercore ISI set a $290.00 target price on shares of Apple and gave the company an "outperform" rating in a research note on Friday. Moffett Nathanson raised shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 target price on the stock in a research note on Thursday, September 4th. Melius Research set a $290.00 price target on shares of Apple and gave the company a "buy" rating in a report on Wednesday, September 10th. Jefferies Financial Group boosted their price target on shares of Apple from $190.67 to $205.82 and gave the company a "hold" rating in a report on Monday, September 8th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $266.00 price target on shares of Apple in a report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $245.66.

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value 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 approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.

Apple Trading Down 0.5%

Shares of NASDAQ:AAPL opened at $255.46 on Monday. The stock has a market capitalization of $3.79 trillion, a PE ratio of 38.76, a P/E/G ratio of 2.65 and a beta of 1.11. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The firm has a fifty day moving average price of $228.87 and a 200 day moving average price of $213.22. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

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

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple's dividend payout ratio is currently 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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