Tsfg LLC Raises Holdings in Apple Inc. (NASDAQ:AAPL)

Tsfg LLC lifted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,976 shares of the iPhone maker's stock after buying an additional 5,043 shares during the period. Apple comprises 2.7% of Tsfg LLC's portfolio, making the stock its 10th biggest holding. Tsfg LLC's holdings in Apple were worth $13,323,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Burkett Financial Services LLC lifted its stake in Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after purchasing an additional 93 shares during the period. Avid Wealth Partners LLC lifted its stake in Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after purchasing an additional 930 shares during the period. OneAscent Wealth Management LLC lifted its stake in Apple by 4.6% during the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after purchasing an additional 409 shares during the period. TruWealth Advisors LLC lifted its stake in Apple by 2.8% during the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock worth $42,045,000 after purchasing an additional 5,120 shares during the period. Finally, Allstate Corp lifted its stake in Apple by 3,368.2% during the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock worth $113,062,000 after purchasing an additional 438,471 shares during the period. Institutional investors own 67.73% of the company's stock.

Apple Stock Down 0.2%

AAPL traded down $0.42 during trading on Thursday, hitting $232.91. The company had a trading volume of 37,584,287 shares, compared to its average volume of 57,933,523. The company has a market capitalization of $3.46 trillion, a PE ratio of 35.33, a PEG ratio of 2.40 and a beta of 1.16. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The firm's 50-day moving average price is $208.49 and its 200 day moving average price is $213.35. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for 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%. The firm's revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 EPS. As a group, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, August 11th. Apple's payout ratio is currently 15.78%.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of the business'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 sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AAPL shares. TD Cowen dropped their price objective on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. BMO Capital Markets reaffirmed a "buy" rating on shares of Apple in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Jefferies Financial Group raised shares of Apple from an "underperform" rating to a "hold" rating in a report on Friday, July 18th. Finally, DA Davidson reaffirmed a "buy" rating and set a $250.00 price objective on shares of Apple in a report on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Apple has an average rating of "Moderate Buy" and a consensus target price of $237.60.

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.