Trinity Financial Advisors LLC Has $6.20 Million Stake in Apple Inc. (NASDAQ:AAPL)

Trinity Financial Advisors LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,837 shares of the iPhone maker’s stock after selling 590 shares during the quarter. Apple comprises about 2.5% of Trinity Financial Advisors LLC’s investment portfolio, making the stock its 14th largest position. Trinity Financial Advisors LLC’s holdings in Apple were worth $6,198,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Granite Investment Partners LLC grew its position in shares of Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares during the period. Truist Financial Corp boosted its stake in Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after purchasing an additional 95,235 shares during the period. Bellwether Advisors LLC increased its stake in Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares in the last quarter. Finally, Gentry Private Wealth LLC acquired a new stake in Apple in the second quarter worth $876,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Up 0.1 %

Shares of Apple stock opened at $228.28 on Wednesday. The firm has a market cap of $3.45 trillion, a price-to-earnings ratio of 37.55, a PEG ratio of 2.20 and a beta of 1.24. The stock’s 50-day moving average is $227.34 and its 200 day moving average is $217.31. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a one year low of $164.07 and a one year high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 EPS. Equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

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

Insider Activity

In other news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AAPL shares. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Oppenheimer reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Moffett Nathanson lowered their target price on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research note on Tuesday. Tigress Financial upped their price target on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Finally, Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

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.