Tompkins Financial Corp Sells 5,445 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Mar 19th, 2023

Tompkins Financial Corp decreased its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 219,234 shares of the iPhone maker’s stock after selling 5,445 shares during the quarter. Apple accounts for about 4.5% of Tompkins Financial Corp’s portfolio, making the stock its 3rd largest position. Tompkins Financial Corp’s holdings in Apple were worth $28,485,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AAPL. Robinson Value Management Ltd. acquired a new stake in shares of Apple during the third quarter worth about $28,000. Hanseatic Management Services Inc. raised its position in shares of Apple by 75.4% during the third quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after purchasing an additional 107 shares during the period. Cheyne Capital Management UK LLP raised its position in shares of Apple by 200.0% during the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $293,000 after purchasing an additional 550 shares during the period. Ramsey Quantitative Systems acquired a new stake in shares of Apple during the second quarter worth about $55,000. Finally, Morgan Dempsey Capital Management LLC acquired a new stake in shares of Apple during the third quarter worth about $55,000. Institutional investors and hedge funds own 57.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AAPL. DA Davidson increased their price objective on Apple from $167.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Fundamental Research reiterated a “buy” rating and set a $168.00 price objective on shares of Apple in a report on Tuesday, February 14th. Rosenblatt Securities increased their price objective on Apple from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Raymond James decreased their price objective on Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Finally, Morgan Stanley raised their price target on Apple from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, March 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $168.24.

Apple Stock Performance

NASDAQ:AAPL opened at $155.00 on Friday. The stock has a market cap of $2.45 trillion, a P/E ratio of 26.32, a PEG ratio of 2.03 and a beta of 1.30. The stock has a 50 day simple moving average of $146.64 and a 200 day simple moving average of $145.32. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.76. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61.

Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.05). The firm had revenue of $117.15 billion for the quarter, compared to analyst estimates of $121.67 billion. Apple had a return on equity of 163.45% and a net margin of 24.56%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.10 earnings per share. Research analysts anticipate that Apple Inc. will post 6.04 earnings per share for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 13th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 10th. This is a boost from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 annualized dividend and a yield of 0.59%. Apple’s payout ratio is currently 15.62%.

Apple Profile

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.