Trinity Wealth Management LLC Acquires 1,161 Shares of Apple Inc. $AAPL

Trinity Wealth Management LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 12.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,467 shares of the iPhone maker’s stock after acquiring an additional 1,161 shares during the quarter. Apple accounts for approximately 0.9% of Trinity Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest position. Trinity Wealth Management LLC’s holdings in Apple were worth $2,148,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Kingstone Capital Partners Texas LLC grew its holdings in Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after acquiring an additional 205,656,808 shares during the period. Norges Bank acquired a new position in shares of Apple in the 4th quarter valued at about $46,868,648,000. Nuveen LLC acquired a new position in shares of Apple in the 1st quarter valued at about $17,472,482,000. GAMMA Investing LLC lifted its stake in shares of Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock valued at $133,425,490,000 after purchasing an additional 59,835,676 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of 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 period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AAPL. Evercore ISI set a $290.00 price objective on Apple and gave the company an “outperform” rating in a research note on Friday. Tigress Financial boosted their price objective on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. Melius Research set a $290.00 price objective on Apple and gave the company a “buy” rating in a research note on Wednesday, September 10th. Raymond James Financial reissued an “outperform” rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Finally, Barclays boosted their price objective on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.51.

Apple Stock Performance

Shares of AAPL opened at $254.63 on Wednesday. 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 stock has a 50 day moving average price of $230.51 and a two-hundred day moving average price of $213.80. The firm has a market capitalization of $3.78 trillion, a P/E ratio of 38.64, a P/E/G ratio of 2.64 and a beta of 1.11. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

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

Apple Dividend Announcement

The business also recently disclosed 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. 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 currently 15.78%.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

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.