TIAA Trust National Association Has $460.12 Million Position in Apple Inc. (NASDAQ:AAPL)

TIAA Trust National Association lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,837,386 shares of the iPhone maker's stock after selling 54,772 shares during the quarter. Apple accounts for approximately 1.4% of TIAA Trust National Association's investment portfolio, making the stock its 17th biggest position. TIAA Trust National Association's holdings in Apple were worth $460,123,000 at the end of the most recent quarter.

• Apple’s Quiet HomePad Delay Could Be Its Loudest Move Yet

A number of other large investors have also recently modified their holdings of AAPL. Vinva Investment Management Ltd raised its position in Apple by 12.4% during the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock worth $192,700,000 after purchasing an additional 83,997 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in shares of Apple in the 3rd quarter valued at about $4,972,000. SYM FINANCIAL Corp boosted its stake in Apple by 6.3% during the 3rd quarter. SYM FINANCIAL Corp now owns 28,626 shares of the iPhone maker's stock valued at $6,670,000 after purchasing an additional 1,695 shares during the last quarter. Tradewinds Capital Management LLC boosted its stake in shares of Apple by 9.2% in the 4th quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock worth $5,308,000 after buying an additional 1,779 shares during the last quarter. Finally, Berkshire Bank boosted its stake in shares of Apple by 2.7% in the 4th quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock worth $22,433,000 after buying an additional 2,360 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AAPL shares. Loop Capital lowered their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Citigroup reissued a "cautious" rating on shares of Apple in a research note on Monday, May 5th. Raymond James cut their price target on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. TD Cowen dropped their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Needham & Company LLC restated a "buy" rating and issued a $225.00 price objective on shares of Apple in a report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $235.80.

• Apple Stock Could Rally After Tariffs Are Blocked By Court

Get Our Latest Report on AAPL

Insider Activity

In related news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the sale, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at $87,377,116.59. This represents a 8.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider now owns 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Up 0.8%

• Apple Sinks After New 25% Tariff Announcement—What's The Bottom?

Shares of Apple stock opened at $203.27 on Wednesday. The company's fifty day simple moving average is $202.29 and its 200-day simple moving average is $224.69. The stock has a market capitalization of $3.04 trillion, a PE ratio of 32.27, a P/E/G ratio of 2.44 and a beta of 1.27. Apple Inc. has a 1-year low of $169.21 and a 1-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 issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. Apple's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.53 EPS. As a group, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.51%. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is presently 16.20%.

Apple declared that its board has initiated a share buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Apple Company 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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