Apple Inc. $AAPL Shares Purchased by TOWER TRUST & INVESTMENT Co

TOWER TRUST & INVESTMENT Co boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,188 shares of the iPhone maker’s stock after purchasing an additional 1,239 shares during the quarter. Apple accounts for approximately 10.5% of TOWER TRUST & INVESTMENT Co’s holdings, making the stock its biggest position. TOWER TRUST & INVESTMENT Co’s holdings in Apple were worth $14,811,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Signature Resources Capital Management LLC raised its stake in Apple by 8.7% during the 2nd quarter. Signature Resources Capital Management LLC now owns 3,237 shares of the iPhone maker’s stock valued at $664,000 after purchasing an additional 260 shares during the last quarter. Prairiewood Capital LLC raised its stake in Apple by 3.0% during the 2nd quarter. Prairiewood Capital LLC now owns 3,086 shares of the iPhone maker’s stock valued at $633,000 after purchasing an additional 91 shares during the last quarter. Kiley Juergens Wealth Management LLC raised its stake in Apple by 3.1% during the 2nd quarter. Kiley Juergens Wealth Management LLC now owns 157,897 shares of the iPhone maker’s stock valued at $32,396,000 after purchasing an additional 4,776 shares during the last quarter. Marmo Financial Group LLC raised its stake in shares of Apple by 3.0% in the 2nd quarter. Marmo Financial Group LLC now owns 1,977 shares of the iPhone maker’s stock valued at $406,000 after buying an additional 58 shares in the last quarter. Finally, Squire Investment Management Company LLC raised its stake in shares of Apple by 4.8% in the 2nd quarter. Squire Investment Management Company LLC now owns 7,154 shares of the iPhone maker’s stock valued at $1,468,000 after buying an additional 325 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,922 shares of company stock valued at $64,320,190 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 3.5%

Shares of Apple stock opened at $245.27 on Monday. The stock has a market capitalization of $3.64 trillion, a P/E ratio of 37.22, a price-to-earnings-growth ratio of 2.39 and a beta of 1.09. 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 company has a 50-day simple moving average of $237.61 and a 200 day simple moving average of $215.83. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the company posted $1.40 EPS. Research analysts expect 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. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio is currently 15.78%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. Phillip Securities cut shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective for the company. in a research note on Thursday, September 11th. BMO Capital Markets restated a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Needham & Company LLC restated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Apple in a research note on Wednesday, October 8th. Finally, Raymond James Financial restated an “outperform” rating and issued a $240.00 price objective (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $248.29.

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.