Tealwood Asset Management Inc. Cuts Stake in Apple Inc. (NASDAQ:AAPL)

Tealwood Asset Management Inc. decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 52.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,325 shares of the iPhone maker's stock after selling 11,333 shares during the quarter. Tealwood Asset Management Inc.'s holdings in Apple were worth $2,293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Norges Bank purchased a new stake in Apple in the 4th quarter valued at $46,868,648,000. GAMMA Investing LLC raised its position in Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock worth $133,425,490,000 after buying an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. raised its position 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 last quarter. Proficio Capital Partners LLC raised its position in Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after buying an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp raised its position in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after buying an additional 20,079,472 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity

In other Apple news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. Citigroup restated a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Wedbush restated an "outperform" rating and set a $270.00 price objective on shares of Apple in a research report on Tuesday, June 10th. Evercore ISI upped their price objective on shares of Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Loop Capital cut their price objective on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Finally, Barclays set a $173.00 price target on shares of Apple and gave the stock an "underweight" rating in a research note on Tuesday, June 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $234.95.

Apple Price Performance

NASDAQ AAPL traded down $1.54 during trading hours on Monday, reaching $212.01. The company's stock had a trading volume of 13,409,493 shares, compared to its average volume of 53,441,782. The stock has a market cap of $3.17 trillion, a PE ratio of 33.06, a PEG ratio of 2.38 and a beta of 1.20. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company's 50-day moving average is $203.35 and its two-hundred day moving average is $218.44. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm's revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.53 EPS. Analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its board has initiated a stock buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is currently 16.20%.

Apple 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.