True Vision MN LLC Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

True Vision MN LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 7.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,099 shares of the iPhone maker’s stock after selling 423 shares during the quarter. True Vision MN LLC’s holdings in Apple were worth $1,188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MetLife Investment Management LLC boosted its position in Apple by 1.8% during the 3rd quarter. MetLife Investment Management LLC now owns 4,604,031 shares of the iPhone maker’s stock valued at $1,072,739,000 after acquiring an additional 82,680 shares in the last quarter. RPg Family Wealth Advisory LLC lifted its stake in shares of Apple by 1.6% in the 3rd quarter. RPg Family Wealth Advisory LLC now owns 46,924 shares of the iPhone maker’s stock valued at $10,933,000 after purchasing an additional 734 shares during the period. CreativeOne Wealth LLC boosted its position in shares of Apple by 39.9% during the third quarter. CreativeOne Wealth LLC now owns 194,628 shares of the iPhone maker’s stock valued at $45,348,000 after purchasing an additional 55,478 shares in the last quarter. WorthPointe LLC grew its stake in Apple by 2.4% in the third quarter. WorthPointe LLC now owns 16,701 shares of the iPhone maker’s stock worth $3,891,000 after purchasing an additional 397 shares during the period. Finally, Glenmede Trust Co. NA raised its holdings in Apple by 1.4% in the third quarter. Glenmede Trust Co. NA now owns 4,150,902 shares of the iPhone maker’s stock worth $967,160,000 after purchasing an additional 57,060 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Evercore ISI lifted their target price on Apple from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Bank of America upped their price target on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a report on Friday, January 31st. TD Cowen reissued a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Finally, KeyCorp restated an “underweight” rating and set a $200.00 target price on shares of Apple in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $242.52.

Apple Stock Performance

Shares of AAPL stock opened at $232.80 on Wednesday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The firm has a 50 day moving average of $241.58 and a two-hundred day moving average of $230.89. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $3.50 trillion, a PE ratio of 36.95, a P/E/G ratio of 2.36 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, research analysts predict that Apple Inc. will post 7.33 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.

Insider Activity at Apple

In other Apple 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 sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $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 insiders.

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.