True Vision MN LLC Lowers Stock Position in Apple Inc. (NASDAQ:AAPL)

True Vision MN LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,522 shares of the iPhone maker’s stock after selling 113 shares during the period. Apple accounts for approximately 0.8% of True Vision MN LLC’s holdings, making the stock its 29th biggest holding. True Vision MN LLC’s holdings in Apple were worth $1,163,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in AAPL. Meridian Wealth Partners LLC lifted its holdings in Apple by 2.4% in the 2nd quarter. Meridian Wealth Partners LLC now owns 39,235 shares of the iPhone maker’s stock worth $8,264,000 after buying an additional 930 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new position in Apple in the 2nd quarter worth $1,996,000. E Fund Management Co. Ltd. raised its stake in shares of Apple by 31.6% in the 2nd quarter. E Fund Management Co. Ltd. now owns 306,884 shares of the iPhone maker’s stock valued at $64,636,000 after purchasing an additional 73,629 shares in the last quarter. DecisionPoint Financial LLC raised its stake in shares of Apple by 1.7% in the 2nd quarter. DecisionPoint Financial LLC now owns 10,815 shares of the iPhone maker’s stock valued at $2,402,000 after purchasing an additional 180 shares in the last quarter. Finally, Financial & Tax Architects LLC raised its stake in shares of Apple by 17.1% in the 2nd quarter. Financial & Tax Architects LLC now owns 9,392 shares of the iPhone maker’s stock valued at $1,978,000 after purchasing an additional 1,370 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 0.6 %

Shares of AAPL stock opened at $223.45 on Wednesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The company has a market capitalization of $3.40 trillion, a P/E ratio of 36.75, a P/E/G ratio of 2.39 and a beta of 1.24. The firm has a 50-day moving average price of $226.98 and a 200 day moving average price of $213.44. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.46 EPS. Research analysts forecast that Apple Inc. will post 7.45 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AAPL shares. Tigress Financial boosted their price objective on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Friday, November 1st. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 target price on shares of Apple in a research report on Monday, September 9th. UBS Group reiterated a “hold” rating and issued a $236.00 price objective on shares of Apple in a report on Wednesday, October 16th. Finally, Oppenheimer reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. 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 issued a strong buy rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 417,924 shares of company stock worth $94,142,399 in the last quarter. 0.06% of the stock is 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.