Trinity Legacy Partners LLC Increases Position in Apple Inc. (NASDAQ:AAPL)

Trinity Legacy Partners LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 45,382 shares of the iPhone maker’s stock after purchasing an additional 1,119 shares during the period. Apple comprises approximately 2.7% of Trinity Legacy Partners LLC’s portfolio, making the stock its 8th biggest position. Trinity Legacy Partners LLC’s holdings in Apple were worth $9,558,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AAPL. Dimensional Fund Advisors LP raised its stake in shares of Apple by 5.5% in 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 period. Capital International Investors grew its position in shares of Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after purchasing an additional 2,474,887 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Apple by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after purchasing an additional 1,065,759 shares during the period. Jennison Associates LLC lifted its holdings in Apple by 1.7% during the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after purchasing an additional 485,873 shares in the last quarter. Finally, Swedbank AB increased its position in shares of Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after buying an additional 2,359,409 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $224.23 on Wednesday. The firm has a fifty day simple moving average of $226.72 and a two-hundred day simple moving average of $215.06. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $3.39 trillion, a PE ratio of 36.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the previous year, the firm posted $1.46 EPS. The business’s revenue was up 6.1% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Apple news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 412,746 shares of company stock worth $93,021,362 in the last three months. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on AAPL. Bank of America reissued a “buy” rating and issued a $256.00 price target on shares of Apple in a report on Thursday, October 3rd. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Friday, October 25th. Evercore ISI reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Piper Sandler reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $235.51.

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.