Summit Trail Advisors LLC Acquires 14,638 Shares of Apple Inc. (NASDAQ:AAPL)

Summit Trail Advisors LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 5.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 287,178 shares of the iPhone maker’s stock after acquiring an additional 14,638 shares during the period. Apple accounts for about 1.6% of Summit Trail Advisors LLC’s investment portfolio, making the stock its 10th largest position. Summit Trail Advisors LLC’s holdings in Apple were worth $60,485,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Access Investment Management LLC acquired a new stake in shares of Apple during the 1st quarter worth about $140,000. Hoese & Co LLP boosted its stake in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new stake in shares of Apple during the 2nd quarter worth about $206,000. Benchmark Wealth Management LLC acquired a new stake in shares of Apple during the 2nd quarter worth about $208,000. Finally, SMH Capital Advisors Inc. acquired a new stake in shares of Apple during the 2nd quarter worth about $209,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Stock Down 0.1 %

AAPL stock opened at $226.96 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.43 trillion, a P/E ratio of 37.33, a PEG ratio of 2.18 and a beta of 1.24. The firm has a 50 day simple moving average of $226.82 and a 200-day simple moving average of $214.03.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the company earned $1.46 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AAPL shares. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research note on Friday, October 25th. New Street Research reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. The Goldman Sachs Group increased their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Maxim Group increased their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $235.51.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Apple news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 412,746 shares of company stock valued at $93,021,362 over the last 90 days. 0.06% of the stock is owned by company insiders.

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.