Truefg LLC Has $1.05 Million Stake in Apple Inc. (NASDAQ:AAPL)

Truefg LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,006 shares of the iPhone maker’s stock after selling 286 shares during the quarter. Apple makes up approximately 0.4% of Truefg LLC’s portfolio, making the stock its 15th largest position. Truefg LLC’s holdings in Apple were worth $1,054,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Swedbank AB acquired a new stake in shares of Apple in the 1st quarter valued at $3,026,492,000. Strategic Financial Concepts LLC boosted its holdings in shares of Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after buying an additional 7,558,826 shares during the period. Canada Pension Plan Investment Board grew its stake in Apple by 158.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after buying an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Apple by 161.2% in the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after acquiring an additional 5,405,542 shares during the period. Finally, Natixis boosted its holdings in Apple by 127.7% during the first quarter. Natixis now owns 4,632,987 shares of the iPhone maker’s stock valued at $794,465,000 after acquiring an additional 2,598,742 shares during the period. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AAPL. TD Cowen upped their target price on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Tigress Financial boosted their price target on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. Oppenheimer reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Finally, Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 target price on shares of Apple in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.91.

Apple Stock Performance

Shares of AAPL stock opened at $231.41 on Monday. The company has a fifty day moving average price of $226.86 and a two-hundred day moving average price of $210.64. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The stock has a market cap of $3.55 trillion, a P/E ratio of 35.99, a P/E/G ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter last year, the company posted $1.26 earnings per share. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts predict that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 517,924 shares of company stock worth $114,786,399. Insiders own 0.06% of the company’s stock.

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.