Apple Inc. (NASDAQ:AAPL) Stock Position Increased by Clearstead Trust LLC

Clearstead Trust LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,559 shares of the iPhone maker’s stock after buying an additional 2,899 shares during the quarter. Apple comprises about 4.0% of Clearstead Trust LLC’s investment portfolio, making the stock its 5th biggest holding. Clearstead Trust LLC’s holdings in Apple were worth $15,914,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bellwether Advisors LLC lifted its position in Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after acquiring an additional 19,352 shares in the last quarter. Gentry Private Wealth LLC bought a new position in shares of Apple during the second quarter valued at $876,000. WT Asset Management Ltd bought a new position in shares of Apple during the second quarter valued at $80,057,000. TD Asset Management Inc boosted its position in shares of Apple by 10.3% during the second quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock valued at $3,526,874,000 after buying an additional 1,557,848 shares during the last quarter. Finally, Councilmark Asset Management LLC bought a new stake in Apple in the 1st quarter worth about $11,776,000. 60.41% of the stock is owned by institutional investors.

Apple Trading Down 0.4 %

Shares of AAPL stock opened at $222.01 on Tuesday. The stock’s 50-day moving average price is $227.07 and its 200-day moving average price is $213.03. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The stock has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 36.51, a price-to-earnings-growth ratio of 2.41 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 145.09%. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.46 earnings per share. Equities research analysts predict that Apple Inc. will post 7.48 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s payout ratio is 16.45%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Barclays lowered their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and raised their price target for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Finally, The Goldman Sachs Group lifted their price objective on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $235.51.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 417,924 shares of company stock valued at $94,142,399 over the last ninety days. 0.06% of the stock is owned by insiders.

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.