Tribridge Partners Financial LLC Invests $1.54 Million in Apple Inc. $AAPL

Tribridge Partners Financial LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL) in the second quarter, HoldingsChannel.com reports. The fund acquired 7,525 shares of the iPhone maker’s stock, valued at approximately $1,544,000. Apple accounts for 0.9% of Tribridge Partners Financial LLC’s portfolio, making the stock its 16th biggest position.

A number of other institutional investors also recently added to or reduced their stakes in AAPL. Vanguard Group Inc. raised its position in Apple by 1.1% in the second quarter. Vanguard Group Inc. now owns 1,415,932,804 shares of the iPhone maker’s stock worth $290,506,933,000 after acquiring an additional 15,141,995 shares in the last quarter. State Street Corp boosted its position in shares of Apple by 0.9% during the 2nd quarter. State Street Corp now owns 601,249,995 shares of the iPhone maker’s stock worth $123,358,461,000 after purchasing an additional 5,224,229 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Apple by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 354,749,794 shares of the iPhone maker’s stock worth $72,506,336,000 after purchasing an additional 4,942,638 shares during the period. Kingstone Capital Partners Texas LLC grew its stake in shares of Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares during the period. Finally, Norges Bank purchased a new position in shares of Apple in the 2nd quarter valued at about $38,942,255,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on AAPL shares. Rosenblatt Securities boosted their price objective on shares of Apple from $241.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of Apple from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Wall Street Zen cut Apple from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Monness Crespi & Hardt raised their price objective on Apple from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, CLSA lifted their price objective on Apple from $265.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $282.51.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 228,052 shares of company stock valued at $58,604,588. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

Apple stock opened at $274.11 on Tuesday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $288.62. The company has a market capitalization of $4.05 trillion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.60 and a beta of 1.10. The stock has a fifty day moving average of $268.59 and a two-hundred day moving average of $237.81. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 earnings per share. On average, analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is 13.92%.

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.