Triumph Capital Management Has $1.75 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Triumph Capital Management decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 11.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,604 shares of the iPhone maker’s stock after selling 1,406 shares during the quarter. Apple makes up 0.9% of Triumph Capital Management’s holdings, making the stock its 22nd biggest position. Triumph Capital Management’s holdings in Apple were worth $1,749,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Apple by 8.8% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,764,012 shares of the iPhone maker’s stock valued at $2,104,786,000 after purchasing an additional 1,028,654 shares during the last quarter. Sageworth Trust Co lifted its holdings in Apple by 13.3% during the 1st quarter. Sageworth Trust Co now owns 6,982 shares of the iPhone maker’s stock valued at $1,151,000 after purchasing an additional 817 shares during the last quarter. Bailard Inc. lifted its holdings in shares of Apple by 0.3% during the first quarter. Bailard Inc. now owns 899,215 shares of the iPhone maker’s stock worth $148,281,000 after buying an additional 2,545 shares in the last quarter. Guardian Investment Management lifted its holdings in shares of Apple by 11.3% during the first quarter. Guardian Investment Management now owns 131,841 shares of the iPhone maker’s stock worth $15,393,000 after buying an additional 13,373 shares in the last quarter. Finally, Community Bank of Raymore lifted its holdings in shares of Apple by 11.3% during the first quarter. Community Bank of Raymore now owns 16,626 shares of the iPhone maker’s stock worth $2,742,000 after buying an additional 1,683 shares in the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AAPL shares. Morgan Stanley dropped their target price on Apple from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Friday, August 4th. Piper Sandler lifted their target price on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. DA Davidson downgraded Apple from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $193.00 to $185.00 in a report on Monday, June 5th. Oppenheimer lifted their target price on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, JPMorgan Chase & Co. raised their price target on Apple from $190.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 1st. Ten equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $198.86.

Insider Buying and Selling

In other news, SVP Deirdre O’brien sold 15,419 shares of Apple stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the sale, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $24,363,619.20. The sale was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 0.8 %

Shares of NASDAQ AAPL opened at $189.46 on Friday. Apple Inc. has a one year low of $124.17 and a one year high of $198.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. The business’s fifty day moving average price is $186.82 and its 200-day moving average price is $173.36. The stock has a market capitalization of $2.96 trillion, a PE ratio of 31.84, a P/E/G ratio of 2.63 and a beta of 1.28.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The business had revenue of $81.80 billion for the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter in the prior year, the firm posted $1.20 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post 6.04 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a dividend of $0.24 per share. The ex-dividend date was Friday, August 11th. This represents a $0.96 annualized dividend and a yield of 0.51%. Apple’s payout ratio is 16.13%.

Apple 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.