TD Asset Management Inc. trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 24.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,344,723 shares of the iPhone maker’s stock after selling 1,105,091 shares during the quarter. Apple accounts for about 1.0% of TD Asset Management Inc.’s holdings, making the stock its 21st biggest holding. TD Asset Management Inc. owned approximately 0.07% of Apple worth $661,988,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Centaurus Financial Inc. raised its holdings in Apple by 17.9% during the 1st quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock valued at $44,000 after buying an additional 1,262 shares during the last quarter. Semmax Financial Advisors Inc. bought a new stake in Apple during the 4th quarter valued at $50,000. Avondale Wealth Management raised its holdings in Apple by 25.4% during the 2nd quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after buying an additional 64 shares during the last quarter. NuWave Investment Management LLC raised its holdings in Apple by 2,245.0% during the 2nd quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after buying an additional 449 shares during the last quarter. Finally, Horan Securities Inc. raised its holdings in Apple by 64.2% during the 2nd quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after buying an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.
Shares of AAPL stock opened at $203.92 on Wednesday. Apple Inc. has a one year low of $142.00 and a one year high of $233.47. The company’s 50-day moving average is $205.07 and its 200 day moving average is $193.47. The company has a market capitalization of $915.77 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Friday, August 9th. Apple’s dividend payout ratio (DPR) is 25.86%.
Apple declared that its board has initiated a stock buyback plan on Tuesday, April 30th that authorizes the company to buyback $75.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
A number of equities research analysts recently commented on AAPL shares. Monness Crespi & Hardt reiterated a “buy” rating and set a $265.00 price target (up from $245.00) on shares of Apple in a report on Wednesday, July 31st. Barclays initiated coverage on shares of Apple in a research report on Wednesday, August 7th. They set an “equal weight” rating and a $192.00 price objective on the stock. Loop Capital boosted their price objective on shares of Apple to $200.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Rosenblatt Securities reissued a “sell” rating and set a $150.00 price objective on shares of Apple in a research report on Monday, July 8th. Finally, BTIG Research boosted their price objective on shares of Apple to $234.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $217.25.
In other Apple news, insider Chris Kondo sold 4,376 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $217.47, for a total transaction of $951,648.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arthur D. Levinson sold 17,500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $201.69, for a total transaction of $3,529,575.00. Following the transaction, the director now owns 1,150,783 shares in the company, valued at approximately $232,101,423.27. The disclosure for this sale can be found here. Insiders have sold a total of 304,536 shares of company stock worth $62,894,611 over the last three months. 0.05% of the stock is currently owned by insiders.
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.
Read More: Leveraged Buyout (LBO)
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.