TrinityPoint Wealth LLC Sells 1,336 Shares of Apple Inc. (NASDAQ:AAPL)

TrinityPoint Wealth LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 154,655 shares of the iPhone maker’s stock after selling 1,336 shares during the quarter. Apple accounts for about 5.2% of TrinityPoint Wealth LLC’s portfolio, making the stock its biggest holding. TrinityPoint Wealth LLC’s holdings in Apple were worth $36,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Lantz Financial LLC boosted its holdings in Apple by 8.6% during the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after purchasing an additional 2,361 shares during the last quarter. Herold Advisors Inc. lifted its position in Apple by 1.5% during the 2nd quarter. Herold Advisors Inc. now owns 97,574 shares of the iPhone maker’s stock worth $20,553,000 after buying an additional 1,415 shares in the last quarter. Rezny Wealth Management Inc. lifted its position in Apple by 2.2% during the 2nd quarter. Rezny Wealth Management Inc. now owns 2,894 shares of the iPhone maker’s stock worth $610,000 after buying an additional 62 shares in the last quarter. HMS Capital Management LLC boosted its stake in shares of Apple by 3.8% during the 2nd quarter. HMS Capital Management LLC now owns 17,085 shares of the iPhone maker’s stock worth $3,599,000 after buying an additional 630 shares during the last quarter. Finally, Joseph P. Lucia & Associates LLC grew its holdings in shares of Apple by 0.9% in the 2nd quarter. Joseph P. Lucia & Associates LLC now owns 44,023 shares of the iPhone maker’s stock valued at $9,272,000 after acquiring an additional 397 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on 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 in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a report on Tuesday, January 21st. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Monness Crespi & Hardt boosted their price objective on shares of Apple to $245.00 and gave the stock a “buy” rating in a research note on Wednesday. Rosenblatt Securities upped their target price on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Barclays reduced their price target on Apple from $184.00 to $183.00 and set an “underweight” rating for the company in a report on Wednesday. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $238.05.

Apple Stock Down 0.4 %

AAPL stock opened at $222.78 on Friday. The stock has a market capitalization of $3.35 trillion, a P/E ratio of 36.64, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm has a 50-day moving average price of $240.93 and a 200-day moving average price of $230.69. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last posted its earnings results 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 firm had revenue of $94.93 billion during 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%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.46 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Apple Company 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.