Corundum Trust Company INC Sells 608 Shares of Apple Inc. (NASDAQ:AAPL)

Corundum Trust Company INC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 7.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 7,741 shares of the iPhone maker’s stock after selling 608 shares during the period. Apple accounts for approximately 5.8% of Corundum Trust Company INC’s holdings, making the stock its 6th largest position. Corundum Trust Company INC’s holdings in Apple were worth $1,939,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AAPL. International Assets Investment Management LLC boosted its holdings in shares of Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after buying an additional 93,886,664 shares during the period. State Street Corp lifted its position in Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after acquiring an additional 20,483,787 shares during the period. FMR LLC grew its position in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Apple by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after purchasing an additional 5,893,741 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent research reports. Wedbush restated an “outperform” rating and issued a $325.00 price target on shares of Apple in a research note on Monday, March 3rd. JPMorgan Chase & Co. upped their price target on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Argus raised shares of Apple to a “strong-buy” rating in a research report on Friday, January 31st. Monness Crespi & Hardt boosted their price objective on shares of Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.22.

Apple Stock Down 3.4 %

NASDAQ:AAPL opened at $209.68 on Friday. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The company has a market cap of $3.15 trillion, a PE ratio of 33.28, a P/E/G ratio of 2.44 and a beta of 1.18. The firm’s 50 day simple moving average is $235.12 and its 200 day simple moving average is $233.83.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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 net margin of 24.30% and a return on equity of 160.83%. On average, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.48%. Apple’s payout ratio is 15.87%.

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.