Apple Inc. (NASDAQ:AAPL) is Tiemann Investment Advisors LLC's Largest Position

Tiemann Investment Advisors LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,982 shares of the iPhone maker's stock after selling 1,272 shares during the quarter. Apple accounts for about 7.0% of Tiemann Investment Advisors LLC's portfolio, making the stock its largest position. Tiemann Investment Advisors LLC's holdings in Apple were worth $15,772,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Waverton Investment Management Ltd boosted its stake in Apple by 3.8% during the third quarter. Waverton Investment Management Ltd now owns 419,435 shares of the iPhone maker's stock worth $97,726,000 after buying an additional 15,413 shares during the period. WealthPlan Investment Management LLC raised its stake in shares of Apple by 32.6% in the third quarter. WealthPlan Investment Management LLC now owns 356,886 shares of the iPhone maker's stock valued at $83,154,000 after acquiring an additional 87,839 shares during the period. Apollon Financial LLC lifted its holdings in shares of Apple by 1.3% in the 3rd quarter. Apollon Financial LLC now owns 62,500 shares of the iPhone maker's stock worth $14,563,000 after acquiring an additional 802 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Apple by 23.9% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 499,426 shares of the iPhone maker's stock worth $116,265,000 after purchasing an additional 96,362 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Apple by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 34,486,195 shares of the iPhone maker's stock valued at $8,035,283,000 after purchasing an additional 432,140 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Down 2.3%

NASDAQ:AAPL traded down $4.77 during midday trading on Wednesday, reaching $202.09. 59,113,086 shares of the stock traded hands, compared to its average volume of 55,963,045. The stock has a market capitalization of $3.02 trillion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The business has a 50-day moving average of $205.87 and a two-hundred day moving average of $226.43.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.53 earnings per share. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its board has authorized a share buyback 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 typically a sign that the company's board of directors believes its shares are undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is currently 16.20%.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AAPL shares. Loop Capital decreased their price objective on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Citigroup reissued a "cautious" rating on shares of Apple in a research note on Monday, May 5th. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Raymond James reduced their target price on Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, Bank of America decreased their target price on Apple from $250.00 to $240.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $235.80.

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.