Apple Inc. (NASDAQ:AAPL) Shares Acquired by TruWealth Advisors LLC

TruWealth Advisors LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 2.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 189,282 shares of the iPhone maker’s stock after buying an additional 5,120 shares during the quarter. Apple makes up 2.5% of TruWealth Advisors LLC’s holdings, making the stock its 10th largest position. TruWealth Advisors LLC’s holdings in Apple were worth $42,045,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Apple during the 4th quarter worth approximately $46,868,648,000. GAMMA Investing LLC boosted its stake in shares of Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after acquiring an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Apple by 23,555.4% during the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker’s stock worth $5,272,653,000 after purchasing an additional 20,966,232 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In related news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the transaction, the chief financial officer owned 4,569 shares in the company, valued at approximately $941,214. The trade was a 50.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Stock Up 1.3%

Apple stock opened at $207.82 on Wednesday. The company has a market capitalization of $3.10 trillion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The firm has a 50 day moving average price of $203.01 and a 200 day moving average price of $219.45.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.53 earnings per share. Research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its board has approved a stock buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a $0.26 dividend. This is an increase from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Monday, May 12th. Apple’s payout ratio is currently 16.20%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of Apple to $250.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. Loop Capital decreased their price target on shares of Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. Tigress Financial upped their price objective on shares of Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 3rd. Scotiabank lowered shares of Apple to a “market perform” rating in a research note on Friday, May 2nd. Finally, Barclays set a $173.00 target price on Apple and gave the stock an “underweight” rating in a report on Tuesday, June 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.95.

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.