Apple Inc. (NASDAQ:AAPL) Stake Decreased by Trinity Legacy Partners LLC

Trinity Legacy Partners LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,009 shares of the iPhone maker’s stock after selling 2,373 shares during the period. Apple accounts for about 2.3% of Trinity Legacy Partners LLC’s investment portfolio, making the stock its 9th largest holding. Trinity Legacy Partners LLC’s holdings in Apple were worth $9,948,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. Bull Oak Capital LLC lifted its holdings in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new position in Apple during the 2nd quarter valued at approximately $42,000. Christopher J. Hasenberg Inc increased its position in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares in the last quarter. ARK Investment Management LLC purchased a new position in Apple during the third quarter valued at $110,000. Finally, Cordant Inc. boosted its holdings in Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after acquiring an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the company’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 completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The shares were 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 owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AAPL shares. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Wells Fargo & Company lifted their target price on shares of Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research note on Friday, October 25th. Citigroup raised their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.85.

Apple Trading Down 2.4 %

Shares of NASDAQ:AAPL opened at $236.85 on Monday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The company has a market cap of $3.58 trillion, a PE ratio of 38.96, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The stock has a 50 day moving average of $240.18 and a 200 day moving average of $230.22. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 earnings per share. As a group, equities research analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The firm also recently declared 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 0.42%. Apple’s payout ratio is presently 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.