Equitable Trust Co. Has $39.33 Million Stake in Apple Inc. (NASDAQ:AAPL)

Equitable Trust Co. grew its stake in Apple Inc. (NASDAQ:AAPL) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 204,265 shares of the iPhone maker’s stock after acquiring an additional 3,624 shares during the period. Apple accounts for about 3.0% of Equitable Trust Co.’s investment portfolio, making the stock its 5th biggest position. Equitable Trust Co.’s holdings in Apple were worth $39,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of AAPL. Conservest Capital Advisors Inc. boosted its holdings in Apple by 0.3% during the 3rd quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock worth $2,877,000 after acquiring an additional 55 shares during the last quarter. High Pines Wealth Management LLC raised its stake in shares of Apple by 0.7% during the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after purchasing an additional 58 shares during the period. Kraft Davis & Associates LLC raised its stake in Apple by 0.9% in the 3rd quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock valued at $1,155,000 after acquiring an additional 59 shares during the period. Asset Planning Corporation raised its stake in Apple by 1.0% in the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after acquiring an additional 59 shares during the period. Finally, Columbus Macro LLC raised its stake in Apple by 0.5% in the 4th quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after acquiring an additional 59 shares during the period. 60.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays reaffirmed an “underweight” rating and set a $158.00 target price on shares of Apple in a report on Tuesday, April 23rd. Piper Sandler cut their target price on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Monness Crespi & Hardt increased their price objective on Apple from $189.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. The Goldman Sachs Group increased their price objective on Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Maxim Group began coverage on Apple in a research note on Wednesday, April 17th. They set a “hold” rating and a $178.00 price objective for the company. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.62.

Apple Price Performance

AAPL stock opened at $169.30 on Thursday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. The stock’s 50 day moving average price is $172.38 and its 200 day moving average price is $181.63. The firm has a market cap of $2.61 trillion, a P/E ratio of 26.37, a PEG ratio of 2.09 and a beta of 1.27.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.09. The business had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.88 EPS. On average, sell-side analysts expect that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Insider Activity at Apple

In other news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the sale, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The disclosure for this sale can be found here. In the last three months, insiders sold 366,271 shares of company stock worth $63,653,887. Corporate insiders own 0.06% of the company’s stock.

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.