Trinity Legacy Partners LLC Reduces Stock Position in Apple Inc. $AAPL

Trinity Legacy Partners LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,416 shares of the iPhone maker’s stock after selling 380 shares during the quarter. Apple comprises 2.2% of Trinity Legacy Partners LLC’s holdings, making the stock its 11th largest position. Trinity Legacy Partners LLC’s holdings in Apple were worth $9,124,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in AAPL. Salus Financial Advisors LLC boosted its position in Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after purchasing an additional 49 shares in the last quarter. SigFig Wealth Management LLC raised its stake in shares of Apple by 2.8% during the 2nd quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock worth $368,000 after buying an additional 50 shares during the last quarter. Sharpepoint LLC boosted its position in shares of Apple by 3.5% in the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock worth $322,000 after buying an additional 51 shares in the last quarter. Redwood Financial Network Corp grew its stake in Apple by 0.6% in the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after acquiring an additional 53 shares during the last quarter. Finally, Mission Hills Financial Advisory LLC increased its holdings in Apple by 1.3% during the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock valued at $892,000 after acquiring an additional 53 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the transaction, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 259,121 shares of company stock valued at $65,358,981. Company insiders own 0.06% of the company’s stock.

Apple Trading Down 1.6%

NASDAQ AAPL opened at $258.45 on Thursday. The stock has a market cap of $3.84 trillion, a P/E ratio of 39.22, a PEG ratio of 2.56 and a beta of 1.09. The company’s fifty day simple moving average is $242.99 and its 200-day simple moving average is $218.02. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $265.29.

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

Apple Announces Dividend

The firm 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. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s payout ratio is currently 15.78%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. BMO Capital Markets reissued a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target for the company in a research report on Thursday, September 4th. Morgan Stanley set a $298.00 price target on Apple and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Wedbush reaffirmed an “outperform” rating on shares of Apple in a research note on Tuesday. Finally, Monness Crespi & Hardt lifted their price objective on Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.47.

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.