Massmutual Trust Co. FSB ADV Sells 10,090 Shares of Apple Inc. (NASDAQ:AAPL)

Massmutual Trust Co. FSB ADV decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 721,728 shares of the iPhone maker’s stock after selling 10,090 shares during the quarter. Apple makes up about 4.8% of Massmutual Trust Co. FSB ADV’s investment portfolio, making the stock its biggest holding. Massmutual Trust Co. FSB ADV’s holdings in Apple were worth $168,163,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. raised its position in shares of Apple by 127.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after purchasing an additional 42,282 shares during the period. Independent Family Office LLC grew its stake in Apple by 3.9% in the 1st quarter. Independent Family Office LLC now owns 6,529 shares of the iPhone maker’s stock valued at $1,120,000 after buying an additional 244 shares during the last quarter. M3 Advisory Group LLC grew its stake in Apple by 15.3% in the 1st quarter. M3 Advisory Group LLC now owns 14,007 shares of the iPhone maker’s stock valued at $2,402,000 after buying an additional 1,860 shares during the last quarter. Caprock Group LLC raised its holdings in Apple by 1.8% in the 1st quarter. Caprock Group LLC now owns 299,940 shares of the iPhone maker’s stock valued at $51,434,000 after acquiring an additional 5,431 shares during the period. Finally, Forbes Financial Planning Inc. lifted its position in Apple by 4.0% during the first quarter. Forbes Financial Planning Inc. now owns 22,660 shares of the iPhone maker’s stock worth $3,886,000 after acquiring an additional 865 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 404,040 shares of company stock worth $91,062,512. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Friday, November 1st. Barclays lowered their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. TD Cowen boosted their price objective on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. Loop Capital lowered their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $285.00 price target on shares of Apple in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Apple Stock Up 1.3 %

Apple stock opened at $228.02 on Tuesday. The company has a market capitalization of $3.45 trillion, a PE ratio of 37.50, a PEG ratio of 2.20 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The firm’s fifty day moving average is $227.18 and its 200 day moving average is $217.00. 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 data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. As a group, sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

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.