Tritonpoint Wealth LLC Invests $83.23 Million in Apple Inc. (NASDAQ:AAPL)

Tritonpoint Wealth LLC bought a new stake in Apple Inc. (NASDAQ:AAPL) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 432,290 shares of the iPhone maker’s stock, valued at approximately $83,229,000. Apple accounts for about 8.1% of Tritonpoint Wealth LLC’s investment portfolio, making the stock its biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Conservest Capital Advisors Inc. raised its position in shares of Apple by 0.3% during the 3rd quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after acquiring an additional 55 shares in the last quarter. High Pines Wealth Management LLC increased its stake in Apple by 0.7% during the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after purchasing an additional 58 shares during the last quarter. Kraft Davis & Associates LLC raised its holdings in shares of Apple by 0.9% during the third quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock worth $1,155,000 after purchasing an additional 59 shares during the period. Asset Planning Corporation lifted its position in shares of Apple by 1.0% in the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock worth $1,181,000 after buying an additional 59 shares during the last quarter. Finally, Columbus Macro LLC boosted its holdings in shares of 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 buying an additional 59 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

AAPL opened at $173.50 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The firm has a market cap of $2.68 trillion, a PE ratio of 27.02, a P/E/G ratio of 2.04 and a beta of 1.27. The business has a fifty day simple moving average of $172.86 and a 200-day simple moving average of $181.77. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $199.62.

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

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio is 14.95%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AAPL. DA Davidson initiated coverage on shares of Apple in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 price objective on the stock. Piper Sandler Companies downgraded Apple to a “neutral” rating and cut their price target for the stock from $220.00 to $205.00 in a report on Thursday, January 4th. Sanford C. Bernstein upgraded Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price objective for the company in a research report on Monday. Morgan Stanley dropped their target price on Apple from $220.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $220.00 price target on shares of Apple in a report on Tuesday, April 16th. One research 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $202.62.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 366,271 shares of company stock worth $63,653,887. Corporate insiders own 0.06% of the company’s stock.

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.