Matrix Trust Co Has $2.90 Million Stake in Apple Inc. $AAPL

Matrix Trust Co boosted its stake in Apple Inc. (NASDAQ:AAPL) by 8.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,128 shares of the iPhone maker’s stock after buying an additional 1,151 shares during the quarter. Apple makes up about 0.5% of Matrix Trust Co’s investment portfolio, making the stock its 29th largest position. Matrix Trust Co’s holdings in Apple were worth $2,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of AAPL. Ryan Investment Management Inc. bought a new stake in shares of Apple during the second quarter worth $31,000. ROSS JOHNSON & Associates LLC raised its position in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the last quarter. Life Planning Partners Inc bought a new stake in shares of Apple during the fourth quarter worth $47,000. Elite Financial Inc. bought a new stake in shares of Apple during the first quarter worth $58,000. Finally, Conquis Financial LLC bought a new stake in shares of Apple during the fourth quarter worth $63,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Apple Trading Up 0.1%

NASDAQ AAPL opened at $254.63 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a market cap of $3.78 trillion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 2.64 and a beta of 1.11. The business’s fifty day moving average is $230.51 and its 200 day moving average is $213.80.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating 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 company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter last year, the business posted $1.40 EPS. Apple’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal 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 issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s payout ratio is presently 15.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a report on Thursday, September 4th. Loop Capital decreased their target price on Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research note on Thursday, August 21st. Tigress Financial upped their price objective on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 17th. Wedbush set a $310.00 price objective on Apple and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Finally, Sanford C. Bernstein assumed coverage on Apple in a research report on Monday, September 15th. They set an “outperform” rating and a $290.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $245.51.

About Apple

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.