Summit Trail Advisors LLC Boosts Position in Apple Inc. (NASDAQ:AAPL)

Summit Trail Advisors LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 5.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 287,178 shares of the iPhone maker’s stock after buying an additional 14,638 shares during the quarter. Apple accounts for approximately 1.6% of Summit Trail Advisors LLC’s holdings, making the stock its 10th biggest holding. Summit Trail Advisors LLC’s holdings in Apple were worth $60,485,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Access Investment Management LLC bought a new stake in shares of Apple during the first quarter valued at about $140,000. Hoese & Co LLP raised its stake in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares in the last quarter. Sage Financial Group Inc. bought a new stake in shares of Apple during the second quarter valued at about $206,000. Benchmark Wealth Management LLC bought a new stake in shares of Apple during the second quarter valued at about $208,000. Finally, SMH Capital Advisors Inc. bought a new stake in shares of Apple during the second quarter valued at about $209,000. 60.41% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Jeffrey E. Williams sold 59,730 shares of the business’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 value of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. 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 insiders.

Apple Trading Down 0.1 %

NASDAQ:AAPL opened at $226.96 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The stock’s 50-day moving average is $226.82 and its two-hundred day moving average is $214.03. The stock has a market cap of $3.43 trillion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results 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 company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the business posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio is 16.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AAPL shares. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Raymond James lifted their price objective on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Wedbush reiterated an “outperform” rating and issued a $285.00 price target on shares of Apple in a research report on Monday, September 9th. Cfra boosted their price target on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Moffett Nathanson began coverage on shares of Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $235.51.

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.