Trust Point Inc. Buys 7,813 Shares of Apple Inc. (NASDAQ:AAPL)

Trust Point Inc. raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,045 shares of the iPhone maker’s stock after purchasing an additional 7,813 shares during the quarter. Apple accounts for 2.3% of Trust Point Inc.’s investment portfolio, making the stock its 6th biggest holding. Trust Point Inc.’s holdings in Apple were worth $32,566,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AMF Tjanstepension AB lifted its holdings in shares of Apple by 21.1% during the 3rd quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock valued at $787,631,000 after buying an additional 588,427 shares during the last quarter. Thomasville National Bank lifted its stake in Apple by 6.6% in the third quarter. Thomasville National Bank now owns 264,740 shares of the iPhone maker’s stock valued at $61,684,000 after acquiring an additional 16,478 shares during the last quarter. High Net Worth Advisory Group LLC lifted its stake 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 valued at $14,916,000 after acquiring an additional 1,066 shares during the last quarter. Svenska Handelsbanken AB publ bought a new stake in Apple in the third quarter worth approximately $32,146,000. Finally, Orca Investment Management LLC raised its holdings in Apple by 5.6% during the third quarter. Orca Investment Management LLC now owns 40,046 shares of the iPhone maker’s stock valued at $9,331,000 after buying an additional 2,116 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 0.3 %

Apple stock opened at $223.89 on Thursday. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. 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 company has a 50 day moving average of $230.55 and a 200-day moving average of $233.36. The stock has a market capitalization of $3.36 trillion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AAPL shares. Citigroup boosted their target price on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Barclays lifted their price objective on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Maxim Group boosted their price target on shares of Apple to $215.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Redburn Partners set a $230.00 price target on shares of Apple in a research report on Friday, January 31st. Finally, Bank of America upped their price objective on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $245.52.

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.