Total Investment Management Inc. Has $6.49 Million Position in Apple Inc. (NASDAQ:AAPL)

Total Investment Management Inc. lessened its stake in Apple Inc. (NASDAQ:AAPL) by 3.1% in the second quarter, Holdings Channel reports. The firm owned 30,825 shares of the iPhone maker’s stock after selling 979 shares during the quarter. Apple accounts for about 0.9% of Total Investment Management Inc.’s investment portfolio, making the stock its 15th largest position. Total Investment Management Inc.’s holdings in Apple were worth $6,492,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Access Investment Management LLC acquired a new stake in shares of Apple in the 1st quarter valued at approximately $140,000. Hoese & Co LLP grew its holdings in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new stake in shares of Apple during the second quarter worth about $206,000. Benchmark Wealth Management LLC acquired a new position in shares of Apple in the second quarter valued at approximately $208,000. Finally, Sequent Asset Management LLC acquired a new stake in Apple during the 2nd quarter worth approximately $214,000. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock worth $114,786,399 in the last quarter. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AAPL shares. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and increased their price objective for the company from $205.00 to $212.92 in a report on Monday, October 7th. Moffett Nathanson started coverage on Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price objective for the company. Bank of America restated a “buy” rating and set a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. Maxim Group reiterated a “hold” rating and issued a $203.00 target price on shares of Apple in a report on Tuesday, September 10th. Finally, Raymond James boosted their price target on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.91.

Apple Stock Performance

Shares of AAPL opened at $231.41 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm has a market cap of $3.55 trillion, a PE ratio of 35.99, a PEG ratio of 2.40 and a beta of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The stock’s fifty day moving average price is $226.75 and its two-hundred day moving average price is $209.62.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is 15.55%.

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.