Apple Inc. (NASDAQ:AAPL) is TCV Trust & Wealth Management Inc.’s 7th Largest Position

TCV Trust & Wealth Management Inc. grew its holdings in Apple Inc. (NASDAQ:AAPL) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,971 shares of the iPhone maker’s stock after purchasing an additional 1,036 shares during the quarter. Apple makes up approximately 3.4% of TCV Trust & Wealth Management Inc.’s portfolio, making the stock its 7th largest holding. TCV Trust & Wealth Management Inc.’s holdings in Apple were worth $36,867,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Life Planning Partners Inc acquired a new stake in shares of Apple in the fourth quarter valued at approximately $47,000. Conquis Financial LLC acquired a new stake in Apple during the fourth quarter worth approximately $63,000. LSV Asset Management acquired a new stake in Apple during the fourth quarter worth approximately $65,000. Pillar Financial Advisors LLC acquired a new stake in Apple during the fourth quarter worth approximately $82,000. Finally, Compass Planning Associates Inc acquired a new stake in Apple during the fourth quarter worth approximately $96,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 4.2%

NASDAQ AAPL opened at $229.35 on Monday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The company’s 50 day simple moving average is $206.84 and its 200 day simple moving average is $213.07. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a market capitalization of $3.40 trillion, a P/E ratio of 34.80, a PEG ratio of 2.40 and a beta of 1.16.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.40 EPS. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has initiated a share repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple’s payout ratio is 15.78%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Apple in a research report on Friday, July 25th. Citigroup raised their target price on shares of Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating in a research report on Friday, July 18th. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research report on Wednesday, May 21st. Finally, Barclays raised their target price on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $237.60.

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.