Trinity Legacy Partners LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,785 shares of the iPhone maker’s stock after selling 1,266 shares during the quarter. Apple accounts for approximately 3.1% of Trinity Legacy Partners LLC’s portfolio, making the stock its 6th largest holding. Trinity Legacy Partners LLC’s holdings in Apple were worth $8,082,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares during the period. State Street Corp increased its stake in shares of Apple by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after buying an additional 10,951,705 shares during the period. Geode Capital Management LLC increased its stake in shares of Apple by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after buying an additional 4,456,954 shares during the period. Norges Bank bought a new stake in Apple during the 4th quarter valued at $25,228,507,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Apple by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after acquiring an additional 1,155,915 shares during the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on AAPL. Evercore ISI upped their price objective on shares of Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday, September 20th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $139.00 price objective on shares of Apple in a report on Thursday, September 8th. Itaú Unibanco assumed coverage on Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price for the company. Fundamental Research set a $177.07 price target on shares of Apple and gave the company a “buy” rating in a report on Thursday, August 4th. Finally, Credit Suisse Group set a $201.00 price objective on shares of Apple in a research report on Thursday, September 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.68.
Insiders Place Their Bets
In other news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Apple news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Apple Stock Down 1.5 %
Apple stock opened at $150.43 on Friday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The stock has a fifty day simple moving average of $160.32 and a two-hundred day simple moving average of $155.73. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The firm has a market cap of $2.42 trillion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.98 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. Apple’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 EPS. Equities analysts predict that Apple Inc. will post 6.1 EPS for the current fiscal year.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.61%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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