Tiemann Investment Advisors LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 1.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,496 shares of the iPhone maker’s stock after selling 513 shares during the period. Apple accounts for about 4.0% of Tiemann Investment Advisors LLC’s portfolio, making the stock its 2nd largest position. Tiemann Investment Advisors LLC’s holdings in Apple were worth $4,700,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in AAPL. Blue Sky Asset Management LLC acquired a new stake in Apple in the 2nd quarter worth approximately $108,000. FNY Managed Accounts LLC boosted its stake in Apple by 852.4% in the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares in the last quarter. Private Vista LLC acquired a new stake in Apple in the 2nd quarter worth approximately $122,000. Armbruster Capital Management Inc. boosted its stake in Apple by 9.4% in the 2nd quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after purchasing an additional 78 shares in the last quarter. Finally, Crow Point Partners LLC boosted its stake in Apple by 100.0% in the 3rd quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock worth $153,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.
Shares of Apple Inc. (NASDAQ:AAPL) opened at $179.97 on Wednesday. Apple Inc. has a 1-year low of $138.62 and a 1-year high of $183.50. The stock has a market cap of $913,170.00, a price-to-earnings ratio of 17.61, a PEG ratio of 1.36 and a beta of 1.22. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s payout ratio is 24.66%.
A number of research firms recently commented on AAPL. Zacks Investment Research cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. Mizuho reiterated a “neutral” rating and issued a $175.00 target price (up from $160.00) on shares of Apple in a research note on Friday, January 19th. Barclays set a $174.00 target price on shares of Apple and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Vetr cut shares of Apple from a “buy” rating to a “hold” rating and set a $184.49 target price for the company. in a research note on Tuesday, February 27th. Finally, Bank of America cut shares of Apple from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $180.00 to $220.00 in a research note on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $201.57.
In other news, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the transaction, the insider now owns 13,739 shares of the company’s stock, valued at approximately $2,401,302.42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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