Tyche Wealth Partners LLC Has $28.18 Million Stake in Apple Inc. (NASDAQ:AAPL)

Tyche Wealth Partners LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 8.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,858 shares of the iPhone maker's stock after selling 11,493 shares during the period. Apple accounts for approximately 6.1% of Tyche Wealth Partners LLC's portfolio, making the stock its 3rd largest position. Tyche Wealth Partners LLC's holdings in Apple were worth $28,179,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AAPL. Tallon Kerry Patrick bought a new stake in Apple during the 4th quarter valued at approximately $1,877,000. First National Bank of Hutchinson lifted its stake in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares during the period. Capital & Planning LLC boosted its position in shares of Apple by 10.7% during the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after purchasing an additional 2,647 shares in the last quarter. Eagle Capital Management LLC grew its stake in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after purchasing an additional 272 shares during the period. Finally, Brighton Jones LLC raised its holdings in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after purchasing an additional 69,207 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Performance

Shares of Apple stock traded up $9.32 on Friday, hitting $229.35. 113,661,399 shares of the company's stock were exchanged, compared to its average volume of 57,968,961. The company has a 50-day simple moving average of $206.24 and a 200-day simple moving average of $213.17. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market capitalization of $3.40 trillion, a PE ratio of 34.80, a PEG ratio of 2.24 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last announced 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same period last year, the firm earned $1.40 EPS. The company's revenue was up 9.6% on a year-over-year basis. As a group, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple's payout ratio is currently 15.78%.

Apple announced that its Board of Directors 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 generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of Apple from an "underperform" rating to a "hold" rating in a research report on Friday, July 18th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research note on Friday, July 25th. UBS Group raised their target price on shares of Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Monness Crespi & Hardt boosted their price target on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of "Moderate Buy" and an average price target of $237.60.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the 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 completion of the transaction, the insider owned 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.06% of the company's stock.

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.