Truist Financial Corp reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 16.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,038,466 shares of the iPhone maker’s stock after selling 1,374,006 shares during the period. Apple accounts for about 2.2% of Truist Financial Corp’s investment portfolio, making the stock its 4th largest holding. Truist Financial Corp’s holdings in Apple were worth $1,355,116,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. Wyrmwood Management LLC raised its holdings in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares during the last quarter. Gilfoyle & Co LLC raised its holdings in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after buying an additional 118 shares during the last quarter. PayPay Securities Corp raised its holdings in Apple by 70.2% in the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after buying an additional 210 shares during the last quarter. Cordant Inc. raised its holdings in Apple by 27.7% in the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after buying an additional 140 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in Apple in the fourth quarter worth about $111,000. 60.41% of the stock is owned by hedge funds and other institutional investors.
Apple Price Performance
AAPL stock opened at $189.99 on Wednesday. Apple Inc. has a one year low of $164.07 and a one year high of $199.62. The company’s fifty day moving average price is $176.50 and its 200-day moving average price is $183.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The company has a market capitalization of $2.91 trillion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 2.32 and a beta of 1.26.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. Apple’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 earnings per share. On average, equities analysts anticipate that Apple Inc. will post 6.57 EPS for the current fiscal year.
Apple declared that its board has authorized a share buyback plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a dividend of $0.25 per share. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.53%. Apple’s dividend payout ratio is presently 15.55%.
Insider Activity at Apple
In related news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Apple news, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now owns 29,278 shares in the company, valued at $5,574,531.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Insiders have sold a total of 371,270 shares of company stock valued at $64,605,696 over the last 90 days. 0.06% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several research analysts have issued reports on the stock. DZ Bank reaffirmed a “hold” rating and issued a $180.00 target price on shares of Apple in a report on Thursday, March 28th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price target on shares of Apple in a research note on Friday, May 3rd. Canaccord Genuity Group lifted their price target on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Citigroup reduced their price target on shares of Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Finally, Wedbush lifted their price target on shares of Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.44.
Check Out Our Latest Stock Analysis on AAPL
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.
Further Reading
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Source: defenseworld.net
