Apple Inc. (NASDAQ:AAPL) is Trust Co of Kansas’ 4th Largest Position

Trust Co of Kansas raised its stake in Apple Inc. (NASDAQ:AAPL) by 7.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,829 shares of the iPhone maker’s stock after purchasing an additional 2,865 shares during the period. Apple accounts for approximately 4.8% of Trust Co of Kansas’ investment portfolio, making the stock its 4th largest holding. Trust Co of Kansas’ holdings in Apple were worth $9,979,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Granite Investment Partners LLC grew its stake in 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 last quarter. Truist Financial Corp boosted its holdings in Apple by 1.8% in the second 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 in the last quarter. EP Wealth Advisors LLC grew its stake in shares of Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after acquiring an additional 95,235 shares during the last quarter. Bellwether Advisors LLC increased its holdings in shares of Apple by 387.3% during the second 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. Finally, GAMMA Investing LLC raised its position in shares of Apple by 34.9% in the 3rd quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock valued at $46,650,000 after purchasing an additional 51,842 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Performance

NASDAQ AAPL opened at $232.87 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock’s 50 day simple moving average is $228.06 and its 200-day simple moving average is $218.64. The company has a market cap of $3.52 trillion, a PE ratio of 38.30, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49.

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

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s payout ratio is 16.45%.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on AAPL. Loop Capital dropped their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Bank of America reissued a “buy” rating and issued a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. Rosenblatt Securities lifted their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. The Goldman Sachs Group increased their price objective on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $235.25.

About Apple

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.