Apple Inc. (NASDAQ:AAPL) is Trueblood Wealth Management LLC’s 2nd Largest Position

Trueblood Wealth Management LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,235 shares of the iPhone maker’s stock after selling 231 shares during the quarter. Apple makes up 4.1% of Trueblood Wealth Management LLC’s investment portfolio, making the stock its 2nd largest position. Trueblood Wealth Management LLC’s holdings in Apple were worth $8,210,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bull Oak Capital LLC lifted its stake in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new position in Apple in the 2nd quarter worth $42,000. Christopher J. Hasenberg Inc lifted its position in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the period. Cordant Inc. boosted its stake in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares in the last quarter. Finally, Sage Financial Group Inc. purchased a new position in shares of Apple during the second quarter valued at about $206,000. 67.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. New Street Research reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Moffett Nathanson dropped their price target on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. Wells Fargo & Company upped their price target on Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Tigress Financial raised their price objective on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $236.78.

Apple Stock Performance

AAPL stock opened at $258.20 on Wednesday. The company has a market cap of $3.90 trillion, a P/E ratio of 42.47, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. 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 1 year low of $164.07 and a 1 year high of $258.21. The stock’s fifty day moving average price is $235.45 and its 200-day moving average price is $226.34.

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 return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the firm posted $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.39%. Apple’s dividend payout ratio (DPR) is 16.45%.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction 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 transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 508,170 shares of company stock valued at $117,004,745. Insiders own 0.06% of the company’s stock.

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.