Trust Point Inc. Purchases New Position in Apple Inc. (NASDAQ:AAPL)

Trust Point Inc. purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 114,700 shares of the iPhone maker’s stock, valued at approximately $22,083,000. Apple accounts for 1.8% of Trust Point Inc.’s investment portfolio, making the stock its 7th largest holding.

A number of other hedge funds also recently bought and sold shares of AAPL. Conservest Capital Advisors Inc. increased its stake in shares of Apple by 0.3% in the 3rd quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock worth $2,877,000 after purchasing an additional 55 shares in the last quarter. High Pines Wealth Management LLC increased its stake in shares of Apple by 0.7% in the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after purchasing an additional 58 shares in the last quarter. Kraft Davis & Associates LLC increased its stake in shares of Apple by 0.9% in the 3rd quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock worth $1,155,000 after purchasing an additional 59 shares in the last quarter. Asset Planning Corporation increased its stake in Apple by 1.0% in the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock worth $1,181,000 after buying an additional 59 shares in the last quarter. Finally, Columbus Macro LLC increased its stake in Apple by 0.5% in the 4th quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock worth $2,120,000 after buying an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. Monness Crespi & Hardt increased their price target on Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. UBS Group reiterated a “hold” rating and issued a $190.00 price target on shares of Apple in a research note on Monday, March 25th. The Goldman Sachs Group increased their price target on Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price target on shares of Apple in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $203.05.

Apple Stock Up 1.3 %

Shares of NASDAQ AAPL opened at $169.02 on Thursday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. The company has a market cap of $2.61 trillion, a P/E ratio of 26.33, a PEG ratio of 2.00 and a beta of 1.27. Apple Inc. has a 1 year low of $162.80 and a 1 year high of $199.62. The firm has a 50-day simple moving average of $173.58 and a two-hundred day simple moving average of $181.94.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The business had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $1.88 earnings per share. Research analysts anticipate that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio (DPR) is presently 14.95%.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by company insiders.

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.