MassMutual Private Wealth & Trust FSB Raises Stock Holdings in Apple Inc. $AAPL

MassMutual Private Wealth & Trust FSB boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 711,878 shares of the iPhone maker’s stock after acquiring an additional 6,764 shares during the quarter. Apple makes up approximately 3.9% of MassMutual Private Wealth & Trust FSB’s holdings, making the stock its 4th biggest holding. MassMutual Private Wealth & Trust FSB’s holdings in Apple were worth $146,056,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Burkett Financial Services LLC lifted its position in Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after purchasing an additional 93 shares during the period. Avid Wealth Partners LLC lifted its position in Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after purchasing an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC lifted its position in Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after purchasing an additional 240 shares during the period. OneAscent Wealth Management LLC lifted its position in Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after purchasing an additional 409 shares during the period. Finally, Andina Capital Management LLC lifted its position in Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after purchasing an additional 4,591 shares during the period. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AAPL shares. JPMorgan Chase & Co. upped their target price on shares of Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday. Phillip Securities downgraded shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price on the stock. in a research report on Thursday, September 11th. Raymond James Financial restated an “outperform” rating and set a $240.00 target price (up from $230.00) on shares of Apple in a research report on Friday, August 1st. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Finally, Wedbush reiterated an “outperform” rating and issued a $270.00 price target on shares of Apple in a research report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.74.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by company insiders.

Apple Stock Up 3.2%

AAPL opened at $245.50 on Monday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.64 trillion, a P/E ratio of 37.25, a P/E/G ratio of 2.55 and a beta of 1.11. The stock has a fifty day moving average of $224.35 and a 200-day moving average of $212.10.

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

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s payout ratio is 15.78%.

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.