Truvestments Capital LLC Acquires 1,800 Shares of Apple Inc. (NASDAQ:AAPL)

Truvestments Capital LLC raised its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,221 shares of the iPhone maker's stock after acquiring an additional 1,800 shares during the period. Apple makes up approximately 2.7% of Truvestments Capital LLC's investment portfolio, making the stock its 5th largest position. Truvestments Capital LLC's holdings in Apple were worth $10,573,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Drystone LLC acquired a new position in Apple during the fourth quarter worth $25,000. SPX Gestao de Recursos Ltda purchased a new position in shares of Apple during the 3rd quarter worth $71,000. Pillar Financial Advisors LLC acquired a new position in shares of Apple during the 4th quarter valued at about $82,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple in the third quarter valued at about $77,000. Finally, Compass Planning Associates Inc acquired a new stake in Apple during the fourth quarter worth about $96,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent analyst reports. Citigroup reiterated a "cautious" rating on shares of Apple in a report on Monday, May 5th. Jefferies Financial Group reaffirmed an "underperform" rating and set a $170.62 price target (up previously from $167.88) on shares of Apple in a research report on Friday, May 2nd. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a research report on Monday, May 12th. Evercore ISI lifted their target price on Apple from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Tuesday, March 18th. Finally, The Goldman Sachs Group decreased their price target on Apple from $259.00 to $256.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $235.80.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider now directly owns 15,533 shares in the company, 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. Insiders have sold 191,507 shares of company stock valued at $42,694,080 in the last quarter. Corporate insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of AAPL opened at $202.09 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a market cap of $3.02 trillion, a P/E ratio of 32.08, a PEG ratio of 2.44 and a beta of 1.27. The firm's 50 day moving average price is $205.64 and its 200 day moving average price is $226.26.

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

Apple Increases Dividend

The business also recently declared 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 is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.51%. Apple's dividend payout ratio is 16.20%.

Apple announced that its board has initiated a stock buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

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.

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