Charles Schwab Trust Co Grows Position in Apple Inc. (NASDAQ:AAPL)

Charles Schwab Trust Co raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 13.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 28,333 shares of the iPhone maker’s stock after purchasing an additional 3,259 shares during the period. Charles Schwab Trust Co’s holdings in Apple were worth $6,601,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Granite Investment Partners LLC lifted its stake in shares of Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after buying an additional 7,606 shares in the last quarter. Truist Financial Corp raised its holdings in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares during the period. EP Wealth Advisors LLC lifted its position in shares of Apple by 5.2% in the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after acquiring an additional 95,235 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Apple by 34.9% in the third quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock worth $46,650,000 after acquiring an additional 51,842 shares during the period. Finally, Bellwether Advisors LLC grew its position in shares of Apple by 387.3% during the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on AAPL. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Friday, October 25th. Citigroup boosted their target price on shares of Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Rosenblatt Securities raised their target price on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Friday, November 1st. Finally, Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and increased their price objective for the company from $205.00 to $212.92 in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $235.68.

Apple Stock Up 1.0 %

Shares of NASDAQ:AAPL opened at $237.33 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The business has a 50 day simple moving average of $229.02 and a two-hundred day simple moving average of $219.59. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.81. The firm has a market capitalization of $3.59 trillion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 2.30 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its 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. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 earnings per share. On average, equities analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio (DPR) is 16.45%.

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.