Apple Inc. (NASDAQ:AAPL) is Massmutual Trust Co. FSB ADV’s 2nd Largest Position

Massmutual Trust Co. FSB ADV reduced its position in Apple Inc. (NASDAQ:AAPL) by 0.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 713,674 shares of the iPhone maker’s stock after selling 6,464 shares during the period. Apple accounts for approximately 3.8% of Massmutual Trust Co. FSB ADV’s portfolio, making the stock its 2nd largest holding. Massmutual Trust Co. FSB ADV’s holdings in Apple were worth $122,381,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wyrmwood Management LLC grew its holdings in Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares in the last quarter. Gilfoyle & Co LLC grew its stake in Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. A.P. Gilfoyle & Co. L.P. bought a new stake in Apple during the 4th quarter worth approximately $39,000. University of Texas Texas AM Investment Managment Co. increased its holdings in shares of Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. bought a new position in Apple in the 4th quarter worth about $85,000. Institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wedbush lifted their target price on shares of Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. JPMorgan Chase & Co. lifted their price target on Apple from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday. Sanford C. Bernstein increased their price objective on Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday. UBS Group restated a “neutral” rating and issued a $190.00 target price on shares of Apple in a research report on Tuesday, June 11th. Finally, Bank of America reiterated a “buy” rating and set a $230.00 price target on shares of Apple in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.38.

Apple Price Performance

Shares of AAPL stock opened at $207.49 on Friday. The business’s fifty day moving average is $187.87 and its 200 day moving average is $184.87. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The stock has a market cap of $3.18 trillion, a price-to-earnings ratio of 32.27, a PEG ratio of 2.61 and a beta of 1.25. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $220.20.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. During the same period in the prior year, the firm earned $1.52 EPS. The company’s revenue was down 4.3% compared to the same quarter last year. Research analysts expect that Apple Inc. will post 6.58 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.48%. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Apple declared that its board has authorized a share repurchase plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Apple

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the sale, the insider now directly owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. Insiders have sold a total of 346,270 shares of company stock valued at $60,880,196 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

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.