Truefg LLC Trims Stake in Apple Inc. (NASDAQ:AAPL)

Truefg LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 6.7% during the 1st quarter, HoldingsChannel reports. The fund owned 5,405 shares of the iPhone maker’s stock after selling 391 shares during the period. Apple comprises about 0.4% of Truefg LLC’s investment portfolio, making the stock its 15th largest holding. Truefg LLC’s holdings in Apple were worth $660,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Richard P Slaughter Associates Inc increased its stake in Apple by 141.5% in the 1st quarter. Richard P Slaughter Associates Inc now owns 23,855 shares of the iPhone maker’s stock worth $2,913,000 after buying an additional 13,976 shares during the period. Park Avenue Securities LLC increased its stake in Apple by 5.0% in the 4th quarter. Park Avenue Securities LLC now owns 217,274 shares of the iPhone maker’s stock worth $28,830,000 after buying an additional 10,394 shares during the period. Sequoia Financial Advisors LLC increased its stake in Apple by 2.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 415,669 shares of the iPhone maker’s stock worth $55,155,000 after buying an additional 11,807 shares during the period. Prosperity Planning Inc. increased its stake in Apple by 324.9% in the 1st quarter. Prosperity Planning Inc. now owns 11,760 shares of the iPhone maker’s stock worth $1,436,000 after buying an additional 8,992 shares during the period. Finally, Grand Central Investment Group purchased a new position in Apple in the 4th quarter worth about $4,546,000. 57.77% of the stock is currently owned by institutional investors and hedge funds.

In other Apple news, COO Jeffrey E. Williams sold 133,867 shares of the firm’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $125.74, for a total transaction of $16,832,436.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Luca Maestri sold 121,072 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $132.81, for a total transaction of $16,079,572.32. Following the transaction, the chief financial officer now directly owns 143,961 shares of the company’s stock, valued at $19,119,460.41. The disclosure for this sale can be found here. Insiders sold a total of 290,155 shares of company stock valued at $37,610,735 over the last ninety days. 0.06% of the stock is currently owned by insiders.

Shares of Apple stock opened at $127.45 on Monday. The firm has a market capitalization of $2.13 trillion, a P/E ratio of 39.10, a PEG ratio of 2.75 and a beta of 1.28. The company has a quick ratio of 1.33, a current ratio of 1.36 and a debt-to-equity ratio of 1.51. The company has a 50 day moving average price of $129.20 and a 200 day moving average price of $126.55. Apple Inc. has a 52 week low of $75.05 and a 52 week high of $145.09.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, April 27th. The iPhone maker reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.41. The firm had revenue of $89.58 billion during the quarter, compared to analyst estimates of $76.84 billion. Apple had a net margin of 20.91% and a return on equity of 75.15%. Apple’s revenue was up 53.6% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. As a group, research analysts anticipate that Apple Inc. will post 4.03 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 13th. Investors of record on Monday, May 10th were given a $0.22 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, May 7th. Apple’s dividend payout ratio (DPR) is presently 26.83%.

Several research firms recently commented on AAPL. Deutsche Bank Aktiengesellschaft raised their price target on shares of Apple from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, April 29th. UBS Group raised their price target on shares of Apple from $142.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, April 29th. DA Davidson increased their target price on shares of Apple from $133.00 to $167.00 and gave the stock a “buy” rating in a report on Thursday, January 28th. Wedbush increased their target price on shares of Apple from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Wednesday, May 5th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $165.00 target price on shares of Apple in a report on Wednesday, May 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-six have assigned a buy rating to the stock. Apple has an average rating of “Buy” and a consensus target price of $148.57.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.

Read More: Cash Asset Ratio

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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