TPG Advisors LLC Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

TPG Advisors LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 11.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 23,306 shares of the iPhone maker’s stock after selling 2,997 shares during the period. Apple makes up about 4.2% of TPG Advisors LLC’s investment portfolio, making the stock its 6th largest position. TPG Advisors LLC’s holdings in Apple were worth $5,430,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AAPL. Bull Oak Capital LLC boosted its stake in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new position in Apple during the second quarter worth $42,000. Christopher J. Hasenberg Inc increased its holdings in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. Cordant Inc. raised its position in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares during the period. Finally, Sage Financial Group Inc. acquired a new stake in shares of Apple during the 2nd quarter worth about $206,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

Shares of Apple stock opened at $243.36 on Friday. The company’s 50 day moving average price is $238.68 and its two-hundred day moving average price is $228.69. The firm has a market capitalization of $3.68 trillion, a P/E ratio of 40.03, a P/E/G ratio of 2.41 and a beta of 1.20. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. 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 released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the business posted $1.46 EPS. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Bank of America reiterated a “buy” rating and issued a $256.00 price target on shares of Apple in a research note on Friday. Rosenblatt Securities upped their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. New Street Research reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Friday, December 13th. Finally, Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 target price on shares of Apple in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $238.03.

About Apple

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.