Total Investment Management Inc. Decreases Holdings in Apple Inc. (AAPL)

Total Investment Management Inc. decreased its position in Apple Inc. (NASDAQ:AAPL) by 10.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,359 shares of the iPhone maker’s stock after selling 1,121 shares during the quarter. Apple makes up 0.4% of Total Investment Management Inc.’s portfolio, making the stock its 11th biggest position. Total Investment Management Inc.’s holdings in Apple were worth $1,348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Hefty Wealth Partners grew its stake in shares of Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after acquiring an additional 174 shares during the last quarter. American Beacon Advisors Inc. purchased a new stake in shares of Apple in the first quarter worth $117,000. State of Alaska Department of Revenue purchased a new stake in shares of Apple in the second quarter worth $149,000. D. Scott Neal Inc. grew its stake in shares of Apple by 19.8% in the second quarter. D. Scott Neal Inc. now owns 1,212 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 200 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC grew its stake in shares of Apple by 4.0% in the second quarter. Advocacy Wealth Management Services LLC now owns 1,337 shares of the iPhone maker’s stock worth $193,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 60.33% of the company’s stock.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.20. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. During the same period in the previous year, the firm posted $1.50 EPS. The company’s quarterly revenue was up 12.2% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 13th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.50%. Apple’s dividend payout ratio is currently 28.64%.

In related news, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela J. Ahrendts sold 63,388 shares of Apple stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $154.21, for a total value of $9,775,063.48. The disclosure for this sale can be found here. Insiders have sold a total of 541,177 shares of company stock valued at $85,864,804 over the last 90 days. Insiders own 0.08% of the company’s stock.

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A number of research firms have recently commented on AAPL. Zacks Investment Research raised Apple from a “hold” rating to a “buy” rating and set a $187.00 target price on the stock in a research note on Tuesday. Maxim Group reissued a “buy” rating and issued a $193.00 target price on shares of Apple in a research note on Thursday. Royal Bank Of Canada reissued an “outperform” rating and issued a $160.08 target price (down from $176.00) on shares of Apple in a research note on Wednesday, August 9th. Longbow Research reissued a “buy” rating and issued a $173.00 target price on shares of Apple in a research note on Friday, August 11th. Finally, Instinet reissued a “buy” rating and issued a $175.00 target price (up from $165.00) on shares of Apple in a research note on Wednesday, August 2nd. Eight research analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $193.36.

About Apple

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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