Trust Investment Advisors decreased its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,825 shares of the iPhone maker’s stock after selling 627 shares during the quarter. Apple makes up about 9.5% of Trust Investment Advisors’ portfolio, making the stock its biggest holding. Trust Investment Advisors’ holdings in Apple were worth $11,668,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Daniels&Tansey LLP boosted its holdings in shares of Apple by 1.6% in the fourth quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock valued at $685,000 after acquiring an additional 60 shares during the period. Donald L. Hagan LLC boosted its holdings in shares of Apple by 0.3% in the first quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after acquiring an additional 61 shares during the period. Goodwin Daniel L boosted its holdings in shares of Apple by 0.5% in the first quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after acquiring an additional 62 shares during the period. Opus Capital Group LLC lifted its holdings in shares of Apple by 0.3% during the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after purchasing an additional 63 shares during the period. Finally, Norwood Financial Corp lifted its holdings in shares of Apple by 0.9% during the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 57.98% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently weighed in on AAPL. KeyCorp increased their price target on Apple from $173.00 to $177.00 and gave the stock an “overweight” rating in a report on Tuesday, August 2nd. Morgan Stanley decreased their price target on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Piper Sandler decreased their price target on Apple from $200.00 to $195.00 in a report on Friday, April 29th. Bank of America decreased their price target on Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Finally, Itaú Unibanco started coverage on Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.27.
Insiders Place Their Bets
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was 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 directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.
Apple Trading Down 0.4 %
Apple stock opened at $168.49 on Friday. The stock has a 50-day moving average price of $147.38 and a 200 day moving average price of $157.16. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The stock has a market cap of $2.71 trillion, a PE ratio of 27.80, a P/E/G ratio of 2.14 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same period last year, the company earned $1.30 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Equities research analysts predict that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, August 5th. Apple’s payout ratio is 15.18%.
Apple declared that its board has authorized a stock repurchase plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Apple Company Profile
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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