Tectonic Advisors LLC Has $7.33 Million Stake in Apple Inc. (NASDAQ:AAPL)
Tectonic Advisors LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,281 shares of the iPhone maker’s stock after buying an additional 811 shares during the quarter. Tectonic Advisors LLC’s holdings in Apple were worth $7,332,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Drystone LLC bought a new stake in Apple in the fourth quarter valued at approximately $25,000. Bull Oak Capital LLC grew its holdings in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares during the period. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple in the 3rd quarter valued at $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in Apple during the 3rd quarter worth $77,000. Finally, ARK Investment Management LLC bought a new position in Apple during the third quarter worth about $110,000. 67.73% of the stock is owned by institutional investors.
Apple Price Performance
NASDAQ:AAPL opened at $188.38 on Friday. The company has a market cap of $2.83 trillion, a P/E ratio of 29.90, a P/E/G ratio of 2.44 and a beta of 1.26. The firm’s fifty day moving average price is $229.45 and its two-hundred day moving average price is $233.07. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.
Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is 15.87%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on AAPL. Argus upgraded Apple to a “strong-buy” rating in a report on Friday, January 31st. Wedbush reissued an “outperform” rating and set a $325.00 target price on shares of Apple in a research note on Friday, March 14th. Wells Fargo & Company upped their price target on shares of Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research report on Tuesday, January 21st. Finally, Sanford C. Bernstein lifted their target price on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $245.26.
Check Out Our Latest Report on AAPL
Insider Transactions at Apple
In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares of the company’s stock, valued at $40,072,269.86. The trade was a 17.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. This represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,451 shares of company stock worth $40,818,720. 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.
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