TruWealth Advisors LLC Buys 8,144 Shares of Apple Inc. $AAPL

Key Points

• TruWealth Advisors LLC increased its stake in Apple Inc., purchasing an additional 8,144 shares, bringing its total holdings to 197,426 shares valued at approximately $40.5 million.
• Apple had a strong performance in its last earnings report, with earnings per share of $1.57 and a revenue of $94.04 billion, exceeding analyst expectations significantly.
• Wall Street analysts have a generally positive outlook on Apple, with a target price range from $250 to $270 and an average rating of "Moderate Buy."

TruWealth Advisors LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,426 shares of the iPhone maker's stock after acquiring an additional 8,144 shares during the quarter. Apple accounts for approximately 2.2% of TruWealth Advisors LLC's investment portfolio, making the stock its 11th biggest holding. TruWealth Advisors LLC's holdings in Apple were worth $40,505,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Apple by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker's stock worth $311,157,662,000 after purchasing an additional 5,005,297 shares during the period. Geode Capital Management LLC increased its stake in Apple by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after acquiring an additional 6,307,413 shares during the last quarter. Norges Bank bought a new position in Apple in the fourth quarter valued at about $46,868,648,000. Northern Trust Corp lifted its stake in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after buying an additional 13,137,968 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of NASDAQ AAPL traded up $7.62 during midday trading on Friday, hitting $245.50. 163,435,991 shares of the company's stock were exchanged, compared to its average volume of 47,568,860. The business's fifty day moving average price is $224.35 and its two-hundred day moving average price is $212.26. 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 cap of $3.64 trillion, a price-to-earnings ratio of 37.25, a PEG ratio of 2.55 and a beta of 1.11. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $88.64 billion. During the same period in the previous year, the business earned $1.40 earnings per share. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

Insider Transactions at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Morgan Stanley set a $240.00 price objective on Apple and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Phillip Securities downgraded shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price target for the company. in a research note on Thursday, September 11th. Raymond James Financial reiterated an "outperform" rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Monness Crespi & Hardt boosted their price objective on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, UBS Group reaffirmed a "neutral" rating on shares of Apple in a report on Monday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus target price of $242.74.

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.