Trust Co. of Virginia VA Increases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Trust Co. of Virginia VA lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 0.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 168,728 shares of the iPhone maker’s stock after purchasing an additional 125 shares during the quarter. Apple accounts for approximately 3.4% of Trust Co. of Virginia VA’s holdings, making the stock its 7th largest position. Trust Co. of Virginia VA’s holdings in Apple were worth $35,537,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Christopher J. Hasenberg Inc bought a new stake in Apple during the first quarter worth approximately $35,000. Fidelis Capital Partners LLC increased its position in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple during the 4th quarter valued at $39,000. University of Texas Texas AM Investment Managment Co. raised its stake in shares of Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Apple in the fourth quarter valued at $85,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Moffett Nathanson assumed coverage on Apple in a report on Monday, August 19th. They set a “neutral” rating and a $211.00 target price on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Piper Sandler Companies reissued a “neutral” rating and set a $225.00 target price (up from $190.00) on shares of Apple in a research note on Tuesday, July 9th. New Street Research restated a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Finally, UBS Group upped their price target on Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $238.76.

Apple Price Performance

AAPL opened at $226.78 on Thursday. The stock has a fifty day moving average price of $222.56 and a 200 day moving average price of $203.34. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The stock has a market cap of $3.48 trillion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.66 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 EPS. Analysts forecast that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, insider Chris Kondo sold 8,706 shares of the stock in a transaction on 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 transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock valued at $23,723,887 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

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.