Apple Inc. (NASDAQ:AAPL) Stake Lifted by Trinity Financial Advisors LLC

Trinity Financial Advisors LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 67.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,657 shares of the iPhone maker's stock after purchasing an additional 19,180 shares during the period. Apple makes up approximately 2.1% of Trinity Financial Advisors LLC's portfolio, making the stock its 11th largest position. Trinity Financial Advisors LLC's holdings in Apple were worth $10,586,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Drystone LLC purchased a new stake in Apple in the 4th quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new stake in shares of Apple during the fourth quarter valued at $47,000. Conquis Financial LLC purchased a new stake in Apple during the 4th quarter worth about $63,000. LSV Asset Management purchased a new position in Apple in the 4th quarter valued at about $65,000. Finally, Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the fourth quarter worth about $82,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $933,940.34. Following the transaction, the insider owned 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.

Apple Stock Down 1.2%

Shares of Apple stock traded down $2.54 on Monday, hitting $208.62. 38,637,320 shares of the company's stock traded hands, compared to its average volume of 57,457,383. The stock has a market cap of $3.12 trillion, a P/E ratio of 32.50, a PEG ratio of 2.36 and a beta of 1.20. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The firm's 50-day moving average is $203.39 and its 200 day moving average is $216.83. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

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

Apple announced that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.50%. Apple's dividend payout ratio (DPR) is 16.20%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. DA Davidson boosted their price target on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 2nd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Barclays set a $173.00 price target on shares of Apple and gave the stock an "underweight" rating in a research report on Tuesday, June 24th. Scotiabank lowered shares of Apple to a "market perform" rating in a report on Friday, May 2nd. Finally, Tigress Financial lifted their target price on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $235.27.

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.