TD Private Client Wealth LLC Buys 2,738 Shares of Apple Inc. $AAPL

TD Private Client Wealth LLC boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,650 shares of the iPhone maker's stock after purchasing an additional 2,738 shares during the quarter. Apple comprises 0.7% of TD Private Client Wealth LLC's investment portfolio, making the stock its 28th biggest position. TD Private Client Wealth LLC's holdings in Apple were worth $26,134,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after buying an additional 49,168,843 shares during the period. Geode Capital Management LLC grew its position in shares of Apple by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after buying an additional 6,307,413 shares during the period. Norges Bank bought a new stake in shares of Apple in the 4th quarter valued at $46,868,648,000. Northern Trust Corp lifted its position in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after purchasing an additional 13,137,968 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on AAPL shares. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Friday, July 25th. Evercore ISI reissued an "outperform" rating and issued a $250.00 price target on shares of Apple in a report on Wednesday, August 13th. Wedbush restated an "outperform" rating and issued a $270.00 target price on shares of Apple in a research report on Thursday, August 7th. Raymond James Financial reissued an "outperform" rating and issued a $240.00 target price (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Finally, DA Davidson reiterated a "buy" rating and set a $250.00 target price on shares of Apple in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.37.

Apple Stock Performance

AAPL traded up $0.80 during trading on Wednesday, hitting $230.11. The company's stock had a trading volume of 19,336,211 shares, compared to its average volume of 56,990,016. 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 business's 50 day simple moving average is $213.77 and its 200-day simple moving average is $212.93. The firm has a market cap of $3.41 trillion, a PE ratio of 34.93, a P/E/G ratio of 2.37 and a beta of 1.16. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share 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 company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the prior year, the firm posted $1.40 EPS. Apple's quarterly revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. Apple's dividend payout ratio (DPR) is presently 15.78%.

Apple announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction dated 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 transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.06% of the company's stock.

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.