Global Trust Asset Management LLC Has $8.28 Million Stake in Apple Inc. $AAPL

Key Points

• Global Trust Asset Management LLC decreased its stake in Apple Inc. by 2.9%, owning 40,336 shares valued at approximately $8.28 million, which constitutes 4.4% of its portfolio.
• Institutional investors own about 67.73% of Apple’s stock, with several firms recently increasing their stakes, indicating ongoing interest in the company.
• Apple recently declared a $0.26 quarterly dividend, representing an annualized yield of 0.4%, with a payout ratio of 15.78% as of the last filing.

Global Trust Asset Management LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,336 shares of the iPhone maker's stock after selling 1,194 shares during the period. Apple comprises about 4.4% of Global Trust Asset Management LLC's portfolio, making the stock its 3rd largest holding. Global Trust Asset Management LLC's holdings in Apple were worth $8,276,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AAPL. Ryan Investment Management Inc. bought a new stake in Apple during the second quarter valued at $31,000. ROSS JOHNSON & Associates LLC increased its stake in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. Elite Financial Inc. bought a new stake in Apple during the first quarter valued at $58,000. LSV Asset Management bought a new stake in Apple during the fourth quarter valued at $65,000. Finally, HFM Investment Advisors LLC bought a new stake in Apple during the first quarter valued at $99,000. Institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O'brien sold 43,013 shares of the firm's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the firm's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares of the company's stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 254,922 shares of company stock valued at $64,320,190. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Melius Research set a $290.00 price target on shares of Apple and gave the company a "buy" rating in a report on Wednesday, September 10th. Moffett Nathanson raised shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 price target for the company in a report on Thursday, September 4th. JPMorgan Chase & Co. boosted their price target on shares of Apple from $255.00 to $280.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Bank of America boosted their price target on shares of Apple from $260.00 to $270.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Finally, UBS Group reissued a "neutral" rating on shares of Apple in a report on Monday, September 8th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $248.29.

Apple Price Performance

Shares of NASDAQ AAPL opened at $249.34 on Thursday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $3.70 trillion, a price-to-earnings ratio of 37.84, a PEG ratio of 2.41 and a beta of 1.09. The firm has a 50-day moving average of $240.12 and a two-hundred day moving average of $216.49.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the prior year, the company earned $1.40 EPS. Apple's revenue was up 9.6% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio is presently 15.78%.

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.

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