Tandem Investment Partners LLC Sells 113 Shares of Apple Inc. $AAPL

Tandem Investment Partners LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,391 shares of the iPhone maker’s stock after selling 113 shares during the period. Apple accounts for 2.3% of Tandem Investment Partners LLC’s portfolio, making the stock its 18th largest position. Tandem Investment Partners LLC’s holdings in Apple were worth $2,308,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Burkett Financial Services LLC grew its stake in Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after buying an additional 93 shares during the last quarter. Avid Wealth Partners LLC raised its stake in Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after buying an additional 930 shares during the last quarter. OneAscent Wealth Management LLC raised its stake in Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after buying an additional 409 shares during the last quarter. Bell & Brown Wealth Advisors LLC raised its stake in Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after buying an additional 240 shares during the last quarter. Finally, TruWealth Advisors LLC raised its stake in Apple by 2.8% in the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock valued at $42,045,000 after buying an additional 5,120 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on AAPL. UBS Group increased their price target on Apple from $210.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Rosenblatt Securities reiterated a “neutral” rating and issued a $217.00 price target on shares of Apple in a research note on Tuesday, July 29th. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Bank of America increased their price target on Apple from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating in a research note on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $239.05.

Apple Stock Down 0.0%

Apple stock opened at $239.69 on Friday. The firm has a market cap of $3.56 trillion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 2.50 and a beta of 1.11. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The business’s 50-day moving average price is $219.28 and its 200 day moving average price is $212.86. 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) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $1.40 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is 15.78%.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

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.