Summit Trail Advisors LLC Has $74 Million Stake in Apple Inc. (NASDAQ:AAPL)

Summit Trail Advisors LLC boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 10.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 317,612 shares of the iPhone maker’s stock after purchasing an additional 30,434 shares during the period. Apple comprises approximately 1.8% of Summit Trail Advisors LLC’s investment portfolio, making the stock its 8th biggest position. Summit Trail Advisors LLC’s holdings in Apple were worth $74,004,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. 1620 Investment Advisors Inc. increased its holdings in Apple by 0.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after purchasing an additional 45 shares during the period. Carolina Wealth Advisors LLC increased its holdings in Apple by 1.3% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares during the period. Verus Financial Partners Inc. increased its holdings in Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares during the period. Lowery Thomas LLC increased its holdings in Apple by 0.7% during the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares during the period. Finally, Latitude Advisors LLC increased its holdings in Apple by 0.3% during the 3rd quarter. Latitude Advisors LLC now owns 17,236 shares of the iPhone maker’s stock worth $4,016,000 after purchasing an additional 50 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, 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. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

Shares of NASDAQ AAPL opened at $236.00 on Monday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The business has a 50-day moving average of $241.68 and a 200-day moving average of $230.84. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 38.82, a PEG ratio of 2.39 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. On average, equities analysts anticipate that Apple Inc. will post 7.34 EPS for the current fiscal year.

Apple Dividend Announcement

The firm 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, February 10th. Apple’s dividend payout ratio is currently 16.45%.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $262.00 price objective on shares of Apple in a report on Monday, January 27th. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Barclays raised their price target on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a report on Friday. Citigroup raised their price target on Apple from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday. Finally, Morgan Stanley boosted their target price on Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $242.52.

About Apple

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.