Apple Inc. (NASDAQ:AAPL) is Trust Co. of Vermont’s Largest Position

Trust Co. of Vermont raised its position in Apple Inc. (NASDAQ:AAPL) by 3.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 583,048 shares of the iPhone maker’s stock after purchasing an additional 20,160 shares during the period. Apple comprises approximately 6.7% of Trust Co. of Vermont’s portfolio, making the stock its biggest holding. Trust Co. of Vermont’s holdings in Apple were worth $122,802,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Fragasso Financial Advisors Inc raised its position in Apple by 0.7% during the second quarter. Fragasso Financial Advisors Inc now owns 289,507 shares of the iPhone maker’s stock worth $60,976,000 after acquiring an additional 1,901 shares during the last quarter. Mather Group LLC. raised its position in shares of Apple by 104.2% during the 2nd quarter. Mather Group LLC. now owns 403,039 shares of the iPhone maker’s stock worth $84,888,000 after purchasing an additional 205,697 shares during the last quarter. Great Waters Wealth Management lifted its stake in Apple by 7.5% in the 2nd quarter. Great Waters Wealth Management now owns 38,786 shares of the iPhone maker’s stock valued at $8,169,000 after buying an additional 2,695 shares in the last quarter. Burns Matteson Capital Management LLC grew its holdings in Apple by 36.8% during the 2nd quarter. Burns Matteson Capital Management LLC now owns 8,460 shares of the iPhone maker’s stock valued at $1,782,000 after buying an additional 2,274 shares during the last quarter. Finally, Leibman Financial Services Inc. increased its position in Apple by 2.7% during the second quarter. Leibman Financial Services Inc. now owns 23,255 shares of the iPhone maker’s stock worth $4,898,000 after buying an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Trading Up 0.4 %

NASDAQ AAPL opened at $228.03 on Wednesday. The stock has a market cap of $3.50 trillion, a P/E ratio of 35.46, a PEG ratio of 2.60 and a beta of 1.24. The company’s fifty day simple moving average is $220.53 and its 200-day simple moving average is $194.75. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 145.35%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 EPS. Equities research analysts predict that Apple Inc. will post 6.61 EPS for the current fiscal year.

Apple declared that its board has approved a share repurchase program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio is presently 15.55%.

Insider Buying and Selling at Apple

In other news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold a total of 188,884 shares of company stock valued at $38,092,387 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Canaccord Genuity Group increased their price objective on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. The Goldman Sachs Group lifted their price target on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Itau BBA Securities raised shares of Apple from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $162.00 to $188.00 in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. increased their price target on Apple from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $234.51.

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.