Colonial Trust Co SC Has $42.70 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Colonial Trust Co SC raised its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,531 shares of the iPhone maker's stock after purchasing an additional 9,453 shares during the quarter. Apple makes up approximately 6.3% of Colonial Trust Co SC's holdings, making the stock its biggest position. Colonial Trust Co SC's holdings in Apple were worth $42,704,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Drystone LLC acquired a new stake in shares of Apple in the fourth quarter worth about $25,000. Life Planning Partners Inc acquired a new stake in shares of Apple in the fourth quarter worth about $47,000. Conquis Financial LLC acquired a new stake in shares of Apple in the fourth quarter worth about $63,000. LSV Asset Management acquired a new stake in shares of Apple in the fourth quarter worth about $65,000. Finally, Pillar Financial Advisors LLC acquired a new position in shares of Apple during the 4th quarter worth about $82,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of several research analyst reports. Morgan Stanley reissued an "overweight" rating on shares of Apple in a research report on Friday. Barclays cut their price objective on Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Tigress Financial boosted their price objective on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Thursday, April 3rd. UBS Group reissued a "buy" rating on shares of Apple in a research report on Sunday, June 1st. Finally, Wedbush reissued an "outperform" rating and set a $270.00 price objective on shares of Apple in a research report on Tuesday, June 10th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $234.86.

Apple Trading Down 1.4%

Apple stock traded down $2.78 during mid-day trading on Tuesday, hitting $195.64. 38,432,354 shares of the company's stock were exchanged, compared to its average volume of 54,632,706. The firm has a market capitalization of $2.92 trillion, a P/E ratio of 31.05, a PEG ratio of 2.44 and a beta of 1.22. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company's 50 day simple moving average is $202.28 and its 200-day simple moving average is $222.66.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.53 EPS. On average, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is 16.20%.

Apple declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider now owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,507 shares of company stock worth $42,694,080. Corporate insiders own 0.06% of the company's stock.

Apple 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.