Apple Inc. $AAPL is Trustco Bank Corp N Y’s 2nd Largest Position

Trustco Bank Corp N Y grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,738 shares of the iPhone maker’s stock after buying an additional 144 shares during the quarter. Apple accounts for about 6.0% of Trustco Bank Corp N Y’s investment portfolio, making the stock its 2nd largest holding. Trustco Bank Corp N Y’s holdings in Apple were worth $5,495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Life Planning Partners Inc purchased a new position in shares of Apple during the 4th quarter valued at approximately $47,000. Elite Financial Inc. purchased a new position in shares of Apple during the 1st quarter valued at approximately $58,000. Conquis Financial LLC purchased a new position in shares of Apple during the 4th quarter valued at approximately $63,000. LSV Asset Management purchased a new position in shares of Apple during the 4th quarter valued at approximately $65,000. Finally, Pillar Financial Advisors LLC purchased a new position in shares of Apple during the 4th quarter valued at approximately $82,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

Shares of NASDAQ AAPL opened at $230.03 on Friday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. 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 business’s fifty day moving average price is $221.08 and its two-hundred day moving average price is $212.48. The firm has a market capitalization of $3.41 trillion, a PE ratio of 34.91, a P/E/G ratio of 2.37 and a beta of 1.11.

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

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.5%. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AAPL shares. Evercore ISI increased their target price on Apple from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday. Phillip Securities reissued a “reduce” rating and set a $200.00 price target on shares of Apple in a research report on Thursday. Barclays upped their price target on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research report on Friday, August 1st. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a research report on Thursday, September 4th. Finally, Wedbush reissued an “outperform” rating and set a $270.00 price target on shares of Apple in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.80.

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.