Tribridge Partners Financial LLC Makes New $1.54 Million Investment in Apple Inc. $AAPL

Tribridge Partners Financial LLC acquired a new position in Apple Inc. (NASDAQ:AAPL) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 7,525 shares of the iPhone maker’s stock, valued at approximately $1,544,000. Apple accounts for 0.9% of Tribridge Partners Financial LLC’s holdings, making the stock its 16th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. First National Bank of Hutchinson raised its stake in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after buying an additional 6,982 shares during the period. Eagle Capital Management LLC grew its holdings in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after buying an additional 272 shares in the last quarter. Brighton Jones LLC increased its position in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after buying an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE raised its position in Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after purchasing an additional 1,155 shares during the period. 67.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Apple news, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This represents a 32.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 3,752 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $271.23, for a total value of $1,017,654.96. Following the sale, the insider directly owned 15,098 shares of the company’s stock, valued at $4,095,030.54. The trade was a 19.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 228,052 shares of company stock worth $58,604,588. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 1.5%

AAPL opened at $274.11 on Tuesday. The stock has a market capitalization of $4.05 trillion, a PE ratio of 36.69, a P/E/G ratio of 2.60 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89. Apple Inc. has a one year low of $169.21 and a one year high of $288.62. The business’s 50 day moving average price is $268.59 and its 200 day moving average price is $237.81.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 164.05% and a net margin of 26.92%.The company had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s dividend payout ratio (DPR) is 13.92%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wedbush set a $350.00 price target on shares of Apple and gave the company an “outperform” rating in a report on Monday, December 8th. Argus set a $325.00 price target on shares of Apple and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Apple in a research report on Monday, December 8th. Cowen reaffirmed a “buy” rating on shares of Apple in a report on Monday, October 27th. Finally, DA Davidson upped their price target on shares of Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $282.51.

Apple Company 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.