Apple Inc. $AAPL Stock Position Cut by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 383,207 shares of the iPhone maker’s stock after selling 11,210 shares during the quarter. Apple makes up approximately 7.3% of Tritonpoint Wealth LLC’s holdings, making the stock its largest holding. Tritonpoint Wealth LLC’s holdings in Apple were worth $78,623,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Salus Financial Advisors LLC grew its stake in Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after purchasing an additional 49 shares in the last quarter. Sharpepoint LLC grew its stake in Apple by 3.5% in the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after purchasing an additional 51 shares in the last quarter. Redwood Financial Network Corp grew its stake in Apple by 0.6% in the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after purchasing an additional 53 shares in the last quarter. Mission Hills Financial Advisory LLC grew its stake in Apple by 1.3% in the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock valued at $892,000 after purchasing an additional 53 shares in the last quarter. Finally, Virginia Wealth Management Group Inc. grew its stake in Apple by 0.3% in the second quarter. Virginia Wealth Management Group Inc. now owns 20,946 shares of the iPhone maker’s stock valued at $4,298,000 after purchasing an additional 53 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AAPL shares. Wedbush set a $310.00 target price on Apple and gave the company an “outperform” rating in a research note on Monday, September 22nd. CLSA upgraded Apple to a “strong-buy” rating in a research note on Sunday, October 5th. HSBC set a $220.00 price target on Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $205.82 to $205.16 in a research note on Friday, October 3rd. Finally, Citigroup reiterated a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $248.29.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,922 shares of company stock valued at $64,320,190. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 0.0%

Apple stock opened at $247.77 on Wednesday. The business has a 50 day moving average price of $239.39 and a two-hundred day moving average price of $216.26. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.68 trillion, a price-to-earnings ratio of 37.60, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion during 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 revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 EPS. As a group, equities analysts forecast 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. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio is presently 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.