TD Private Client Wealth LLC Has $28.78 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

TD Private Client Wealth LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,912 shares of the iPhone maker's stock after acquiring an additional 8,023 shares during the quarter. Apple accounts for 0.8% of TD Private Client Wealth LLC's portfolio, making the stock its 29th largest holding. TD Private Client Wealth LLC's holdings in Apple were worth $28,776,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Drystone LLC purchased a new stake in shares of Apple in the fourth quarter valued at $25,000. Life Planning Partners Inc purchased a new stake in shares of Apple in the fourth quarter valued at $47,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple in the third quarter valued at $71,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple in the third quarter valued at $77,000. Finally, Pillar Financial Advisors LLC purchased a new stake in shares of Apple in the fourth quarter valued at $82,000. 67.73% of the stock is owned by institutional investors.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,486 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider now owns 15,533 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock worth $42,694,080 in the last quarter. Corporate insiders own 0.06% of the company's stock.

Apple Trading Down 0.5%

Shares of AAPL stock traded down $0.94 during trading hours on Friday, reaching $199.01. The company had a trading volume of 70,744,759 shares, compared to its average volume of 56,229,633. The company has a 50 day moving average of $203.10 and a 200 day moving average of $225.02. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The firm has a market cap of $2.97 trillion, a price-to-earnings ratio of 31.59, a P/E/G ratio of 2.44 and a beta of 1.27. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly 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. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the prior year, the business posted $1.53 EPS. The firm's quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its board has approved a share buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is currently 16.20%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AAPL. Needham & Company LLC restated a "buy" rating and issued a $225.00 target price on shares of Apple in a report on Friday, May 2nd. Bank of America cut their price objective on Apple from $250.00 to $240.00 and set a "buy" rating for the company in a report on Thursday, April 24th. DA Davidson increased their price objective on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Maxim Group increased their price objective on Apple to $215.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Finally, Citigroup reiterated a "cautious" rating on shares of Apple in a report on Monday, May 5th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average price target of $235.80.

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.