Apple Inc. (NASDAQ:AAPL) is New Covenant Trust Company N.A.’s 5th Largest Position

New Covenant Trust Company N.A. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 12.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,667 shares of the iPhone maker’s stock after purchasing an additional 2,119 shares during the period. Apple comprises approximately 4.1% of New Covenant Trust Company N.A.’s holdings, making the stock its 5th largest holding. New Covenant Trust Company N.A.’s holdings in Apple were worth $4,252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. High Net Worth Advisory Group LLC lifted its holdings in Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after buying an additional 1,066 shares during the period. Granite Investment Partners LLC grew its holdings 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 acquiring an additional 7,606 shares during the period. Truist Financial Corp raised its position in shares of Apple by 1.8% in 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 in the last quarter. Sterling Investment Counsel LLC lifted its stake in shares of Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after purchasing an additional 2,565 shares during the period. Finally, EP Wealth Advisors LLC boosted its position 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 valued at $406,099,000 after purchasing an additional 95,235 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Wells Fargo & Company increased their price target on shares of Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Rosenblatt Securities boosted their price objective on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Oppenheimer reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Finally, KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.03.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the company’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 directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 0.2 %

Shares of NASDAQ:AAPL opened at $243.36 on Monday. The firm has a market capitalization of $3.68 trillion, a PE ratio of 40.03, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The business has a 50 day simple moving average of $238.91 and a two-hundred day simple moving average of $229.08. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. 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 (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.46 EPS. On average, equities analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid 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 0.41%. Apple’s dividend payout ratio 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.