Apple Inc. (NASDAQ:AAPL) is Truist Financial Corp’s 4th Largest Position

Truist Financial Corp boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 1.8% during the second quarter, Holdings Channel.com reports. The firm owned 6,994,703 shares of the iPhone maker’s stock after acquiring an additional 126,210 shares during the quarter. Apple comprises about 2.2% of Truist Financial Corp’s portfolio, making the stock its 4th largest holding. Truist Financial Corp’s holdings in Apple were worth $1,473,224,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in Apple by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after buying an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after acquiring an additional 3,245,281 shares in the last quarter. Capital International Investors raised its position in shares of Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after purchasing an additional 2,474,887 shares during the last quarter. American Century Companies Inc. boosted its stake in Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after purchasing an additional 1,065,759 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Apple by 1.7% during the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after purchasing an additional 485,873 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Stock Down 1.4 %

AAPL opened at $225.00 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market cap of $3.40 trillion, a price-to-earnings ratio of 37.01, a price-to-earnings-growth ratio of 2.21 and a beta of 1.24. The firm’s fifty day moving average is $227.04 and its 200 day moving average is $215.96.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. On average, sell-side analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AAPL shares. Evercore ISI reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Rosenblatt Securities upped their price objective on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Piper Sandler reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Melius Research reaffirmed a “buy” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. Finally, Robert W. Baird lifted their price objective on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 404,040 shares of company stock worth $91,062,512. 0.06% of the stock is owned by insiders.

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.