Tritonpoint Wealth LLC Has $87.61 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Tritonpoint Wealth LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 394,417 shares of the iPhone maker's stock after selling 3,033 shares during the quarter. Apple makes up approximately 8.3% of Tritonpoint Wealth LLC's portfolio, making the stock its largest holding. Tritonpoint Wealth LLC's holdings in Apple were worth $87,612,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer directly owned 4,569 shares of the company's stock, valued at $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.

Apple Trading Up 0.6%

AAPL stock traded up $1.16 on Friday, reaching $211.18. The company's stock had a trading volume of 48,647,642 shares, compared to its average volume of 53,129,766. The business has a fifty day simple moving average of $204.57 and a two-hundred day simple moving average of $215.85. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a market cap of $3.15 trillion, a PE ratio of 32.89, a PEG ratio of 2.35 and a beta of 1.20. 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 announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm's revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 earnings per share. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

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

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 given a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is currently 16.20%.

Analyst Ratings Changes

Several research firms have commented on AAPL. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Loop Capital decreased their price objective on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Wedbush restated an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research report on Wednesday, July 9th. Raymond James Financial decreased their price objective on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Apple from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $235.11.

Apple Company Profile

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.