Apple Inc. $AAPL Position Increased by TruWealth Advisors LLC

TruWealth Advisors LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% during the third quarter, HoldingsChannel reports. The firm owned 200,454 shares of the iPhone maker’s stock after purchasing an additional 3,028 shares during the quarter. Apple makes up about 2.6% of TruWealth Advisors LLC’s investment portfolio, making the stock its 10th largest position. TruWealth Advisors LLC’s holdings in Apple were worth $51,042,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. First National Bank of Hutchinson increased its holdings in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after purchasing an additional 6,982 shares during the period. Eagle Capital Management LLC lifted its holdings in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC increased its holdings in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after buying an additional 69,207 shares during the period. Revolve Wealth Partners LLC increased its holdings in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after buying an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE raised its position in Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after buying an additional 1,155 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevan Parekh sold 4,199 shares of the firm’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the transaction, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. This represents a 32.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 228,052 shares of company stock valued at $58,604,588 in the last three months. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. Wedbush set a $350.00 price objective on shares of Apple and gave the company an “outperform” rating in a report on Monday, December 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, December 3rd. DA Davidson lifted their price objective on Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Tigress Financial boosted their price objective on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. Finally, Sanford C. Bernstein set a $325.00 target price on Apple in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $283.92.

Apple Price Performance

Shares of Apple stock opened at $272.19 on Friday. The firm has a market cap of $4.02 trillion, a PE ratio of 36.44, a P/E/G ratio of 2.54 and a beta of 1.10. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $288.62. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. The business has a 50-day moving average price of $269.59 and a 200 day moving average price of $238.81.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The company had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.Apple’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.64 earnings per share. Sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 13.92%.

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.