Trifecta Capital Advisors LLC Has $25.20 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Key Points

• Trifecta Capital Advisors LLC increased its stake in Apple Inc. by 1.9% in Q1, making it the firm's second-largest position, valued at approximately $25.2 million.
• Analysts have varying opinions on Apple, with a consensus rating of "Moderate Buy" and an average target price of $234.94, reflecting mixed sentiments in recent evaluations.
• Apple declared a quarterly dividend of $0.26 per share, up from the previous quarter, and authorized a stock buyback of up to $100 billion demonstrating confidence in its stock value.

Trifecta Capital Advisors LLC grew its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,446 shares of the iPhone maker's stock after purchasing an additional 2,130 shares during the quarter. Apple comprises approximately 5.3% of Trifecta Capital Advisors LLC's investment portfolio, making the stock its 2nd biggest position. Trifecta Capital Advisors LLC's holdings in Apple were worth $25,200,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Tallon Kerry Patrick bought a new stake in Apple during the fourth quarter worth about $1,877,000. First National Bank of Hutchinson raised its position in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after buying an additional 6,982 shares in the last quarter. Capital & Planning LLC lifted its holdings in shares of Apple by 10.7% during the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock worth $6,836,000 after acquiring an additional 2,647 shares during the period. Eagle Capital Management LLC boosted its position in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after acquiring an additional 272 shares in the last quarter. Finally, Brighton Jones LLC boosted its position in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after acquiring an additional 69,207 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Bank of America restated a "buy" rating and set a $235.00 target price on shares of Apple in a research note on Tuesday, June 10th. Loop Capital lowered their price target on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Monness Crespi & Hardt raised their price objective on Apple to $245.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Tigress Financial lifted their target price on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, April 3rd. Finally, Evercore ISI increased their target price on shares of Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and an average price target of $234.94.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.06% of the company's stock.

Apple Trading Down 1.1%

AAPL stock traded down $2.22 on Wednesday, reaching $209.05. The company's stock had a trading volume of 43,674,703 shares, compared to its average volume of 43,746,808. The firm has a market cap of $3.12 trillion, a PE ratio of 32.56, a PEG ratio of 2.32 and a beta of 1.20. The business has a fifty day simple moving average of $205.10 and a two-hundred day simple moving average of $214.16. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same period last year, the company posted $1.53 EPS. The company's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.50%. Apple's dividend payout ratio is 16.20%.

Apple declared that its board has authorized a share buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

About Apple

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.