Apple Inc. (NASDAQ:AAPL) Position Lowered by Trail Ridge Investment Advisors LLC

Trail Ridge Investment Advisors LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,563 shares of the iPhone maker’s stock after selling 185 shares during the period. Apple accounts for approximately 5.4% of Trail Ridge Investment Advisors LLC’s portfolio, making the stock its 2nd biggest position. Trail Ridge Investment Advisors LLC’s holdings in Apple were worth $8,007,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AAPL. Cooper Financial Group raised its holdings in Apple by 2.2% in the 1st quarter. Cooper Financial Group now owns 114,581 shares of the iPhone maker’s stock valued at $20,007,000 after buying an additional 2,516 shares during the period. IFM Investors Pty Ltd raised its holdings in Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after buying an additional 435,891 shares during the period. Ironwood Wealth Management LLC. raised its holdings in Apple by 0.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after buying an additional 1,040 shares during the period. Allworth Financial LP raised its holdings in Apple by 51.5% in the 1st quarter. Allworth Financial LP now owns 582,532 shares of the iPhone maker’s stock valued at $101,716,000 after buying an additional 198,064 shares during the period. Finally, First National Bank of Hutchinson raised its holdings in Apple by 2.7% in the 1st quarter. First National Bank of Hutchinson now owns 33,893 shares of the iPhone maker’s stock valued at $5,918,000 after buying an additional 877 shares during the period. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the sale, the chief financial officer now owns 110,673 shares in the company, valued at $17,259,454.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Deirdre O’brien sold 8,053 shares of the company’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the completion of the sale, the senior vice president now owns 136,290 shares in the company, valued at $19,414,510.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. Insiders sold 360,651 shares of company stock worth $53,703,645 over the last 90 days. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on AAPL. set a $175.00 target price on Apple in a research report on Friday, July 29th. JPMorgan Chase & Co. set a $200.00 target price on Apple in a research report on Monday, November 14th. Bank of America dropped their target price on Apple from $160.00 to $154.00 and set a “neutral” rating for the company in a research report on Monday, November 7th. Fundamental Research lifted their target price on Apple to $168.50 and gave the company a “buy” rating in a research report on Tuesday, November 8th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $175.00 target price on shares of Apple in a research report on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $176.26.

Apple Price Performance

Shares of NASDAQ AAPL opened at $151.29 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The stock has a 50 day moving average of $147.08 and a two-hundred day moving average of $149.88. The stock has a market cap of $2.41 trillion, a P/E ratio of 24.76, a P/E/G ratio of 1.93 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. During the same quarter in the previous year, the business earned $1.24 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts forecast that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio (DPR) is presently 15.06%.

About Apple

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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