Trinity Financial Advisors LLC Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

Trinity Financial Advisors LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 5.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,593 shares of the iPhone maker’s stock after selling 1,820 shares during the quarter. Apple accounts for approximately 2.8% of Trinity Financial Advisors LLC’s investment portfolio, making the stock its 11th biggest position. Trinity Financial Advisors LLC’s holdings in Apple were worth $5,698,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Orion Capital Management LLC boosted its position in Apple by 15.3% in the 4th quarter. Orion Capital Management LLC now owns 66,029 shares of the iPhone maker’s stock valued at $12,712,000 after buying an additional 8,766 shares during the period. Concord Wealth Partners raised its stake in shares of Apple by 15.5% in the fourth quarter. Concord Wealth Partners now owns 61,641 shares of the iPhone maker’s stock valued at $11,868,000 after acquiring an additional 8,264 shares in the last quarter. Alpha Financial Advisors LLC raised its stake in shares of Apple by 86.5% in the fourth quarter. Alpha Financial Advisors LLC now owns 2,490 shares of the iPhone maker’s stock valued at $479,000 after acquiring an additional 1,155 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in Apple in the fourth quarter valued at $778,000. Finally, Bridgewater Advisors Inc. grew its stake in Apple by 2.1% during the 4th quarter. Bridgewater Advisors Inc. now owns 140,228 shares of the iPhone maker’s stock worth $26,998,000 after purchasing an additional 2,842 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent research reports. Monness Crespi & Hardt lifted their price objective on Apple from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Tigress Financial lifted their price target on shares of Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 30th. Canaccord Genuity Group boosted their price target on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Sanford C. Bernstein upgraded shares of Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price objective on the stock in a report on Monday, April 29th. Finally, Morgan Stanley boosted their target price on shares of Apple from $210.00 to $216.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.59.

Get Our Latest Research Report on AAPL

Apple Trading Up 0.9 %

Shares of AAPL stock opened at $194.03 on Tuesday. The company has a market capitalization of $2.98 trillion, a P/E ratio of 30.18, a price-to-earnings-growth ratio of 2.34 and a beta of 1.25. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average is $177.99 and its two-hundred day moving average is $183.25. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. Apple’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.52 EPS. Equities analysts forecast that Apple Inc. will post 6.57 EPS for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a dividend of $0.25 per share. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio is currently 15.55%.

Apple announced that its Board of Directors has approved a stock buyback program on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The disclosure for this sale can be found here. Insiders sold a total of 346,270 shares of company stock worth $60,880,196 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLFree Report).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.