TCI Wealth Advisors Inc. Purchases 3,312 Shares of Apple Inc. (NASDAQ:AAPL)

TCI Wealth Advisors Inc. raised its position in Apple Inc. (NASDAQ:AAPL) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,042 shares of the iPhone maker’s stock after acquiring an additional 3,312 shares during the period. Apple comprises approximately 2.8% of TCI Wealth Advisors Inc.’s holdings, making the stock its 8th largest holding. TCI Wealth Advisors Inc.’s holdings in Apple were worth $33,562,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Carolina Wealth Advisors LLC raised its position in shares of Apple by 1.3% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after acquiring an additional 46 shares during the last quarter. Verus Financial Partners Inc. grew its stake in shares of Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares during the period. Brown Financial Advisory grew its stake in shares of Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares during the period. Core Wealth Management Inc. increased its holdings in Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares during the last quarter. Finally, Lowery Thomas LLC lifted its stake in Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after buying an additional 50 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $255.59 on Friday. The company has a fifty day moving average price of $237.41 and a two-hundred day moving average price of $227.79. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The stock has a market cap of $3.86 trillion, a P/E ratio of 42.04, a P/E/G ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.46 EPS. As a group, equities analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AAPL shares. Wells Fargo & Company boosted their target price on Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. New Street Research restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Loop Capital cut their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Moffett Nathanson decreased their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. Finally, Citigroup upped their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $237.47.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 508,170 shares of company stock worth $117,004,745. Company 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.