Apple Inc. (AAPL) Holdings Reduced by Tdam USA Inc.
Tdam USA Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 304,939 shares of the iPhone maker’s stock after selling 13,955 shares during the quarter. Apple comprises 3.6% of Tdam USA Inc.’s portfolio, making the stock its 2nd biggest holding. Tdam USA Inc.’s holdings in Apple were worth $56,447,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Delphi Private Advisors LLC acquired a new stake in shares of Apple in the second quarter valued at about $120,000. Quattro Financial Advisors LLC acquired a new stake in shares of Apple in the first quarter valued at about $133,000. CX Institutional acquired a new stake in shares of Apple in the second quarter valued at about $135,000. Spectrum Financial Alliance Ltd LLC acquired a new stake in shares of Apple in the first quarter valued at about $138,000. Finally, Macroview Investment Management LLC grew its position in shares of Apple by 220.3% in the first quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock valued at $151,000 after purchasing an additional 619 shares during the last quarter. 57.65% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $217.79, for a total value of $57,749,196.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the completion of the transaction, the senior vice president now owns 105,538 shares of the company’s stock, valued at approximately $24,554,471.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 466,597 shares of company stock valued at $104,117,353. Corporate insiders own 0.06% of the company’s stock.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.13. The firm had revenue of $62.90 billion during the quarter, compared to analysts’ expectations of $61.55 billion. Apple had a net margin of 22.41% and a return on equity of 48.68%. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.07 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 13.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, November 12th were paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, November 8th. Apple’s dividend payout ratio is 24.52%.
AAPL has been the topic of several research analyst reports. New Street Research downgraded Apple from a “neutral” rating to a “sell” rating in a research report on Monday, August 20th. Morgan Stanley raised their price target on Apple from $226.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, November 8th. Bank of America raised their price target on Apple from $250.00 to $256.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Macquarie set a $214.00 target price on Apple and gave the stock a “buy” rating in a research report on Wednesday, August 15th. Finally, Oppenheimer reissued a “neutral” rating on shares of Apple in a research report on Monday, October 1st. Three research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and twenty-five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $223.45.
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Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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