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Apple Inc. (NASDAQ:AAPL) is Truist Financial Corp.’s fourth largest holding


Truist Financial Corp has acquired shares of Apple Inc. (NASDAQ:AAPL – Free Report) fell 16.3% in the fourth quarter, the company said in its most recent 13F filing with the Securities and Exchange Commission (SEC). The company owned 7,038,466 shares of the iPhone maker, after selling 1,374,006 shares during the period. Apple accounts for about 2.2% of Truist Financial Corp’s investment portfolio, making it the fourth-largest holding company. Truist Financial Corp’s holdings in Apple were worth $1,355,116,000 at the time of the most recent SEC filing.

A number of other major investors have also recently bought and sold shares of the company. Wyrmwood Management LLC increased its stake in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares in the last quarter. Gilfoyle & Co LLC increased its stake in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. PayPay Securities Corp increased its stake in Apple by 70.2% in the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker worth $87,000 after buying an additional 210 shares in the last quarter. Cordant Inc. increased its stake in Apple by 27.7% in the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker worth $110,000, after buying another 140 shares in the last quarter. Finally, Friedenthal Financial bought a new position in Apple in the fourth quarter worth approximately $111,000. 60.41% of the shares are owned by hedge funds and other institutional investors.

Apple price performance

AAPL shares opened at $189.99 on Wednesday. Apple Inc. has a one-year low of $164.07 and a one-year high of $199.62. The company’s fifty-day moving average price is $176.50 and its 200-day moving average price is $183.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The company has a market cap of $2.91 trillion, a price-to-earnings ratio of 2.32 and a beta of 1.26.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly results on Thursday, May 2. The iPhone maker reported earnings per share of $1.53 for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. Apple’s revenue fell 4.3% year over year. In the same quarter of the previous year, the company earned earnings per share of $1.52. On average, stock analysts expect Apple Inc. will post a profit per share of 6.57 for the current financial year.

Apple said its board of directors approved a share repurchase plan on Thursday, May 2, allowing the company to repurchase $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.9% of its shares through open market purchases. Stock buyback plans are usually a sign that company management believes the stock is undervalued.

Apple increases dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16. Well-known investors received a dividend of $0.25 per share on Monday, May 13. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10. This represents a $1.00 annualized dividend and a 0.53% yield. Apple’s dividend payout ratio currently stands at 15.55%.

Insider activity at Apple

In related news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction on Monday, April 1. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the CEO now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Apple news, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction on Wednesday, May 15. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now owns 29,278 shares in the company, valued at $5,574,531.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction on Monday, April 1. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the CEO now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The explanation of this sale can be found here. Insiders have sold a total of 371,270 shares of the company’s stock, worth $64,605,696, over the last 90 days. 0.06% of the shares are owned by business insiders.

Changes in analyst ratings

Several research analysts have issued reports on the stock. DZ Bank reaffirmed a “hold” rating and issued a $180.00 target price on shares of Apple in a report on Thursday, March 28. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price target on shares of Apple in a research note on Friday, May 3. Canaccord Genuity Group raised their target price on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 3. Citigroup lowered their price target on shares of Apple from $220.00 to $210.00 and set a “buy” rating on the company in a research note on Monday, April 29. Finally, Wedbush raised their price target on shares of Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.44.

Check out our latest stock analysis on AAPL

Apple profile

(Free report)

Apple Inc designs, manufactures and sells smartphones, personal computers, tablets, wearables and accessories worldwide. The company offers iPhone, a range of smartphones; Mac, a range of personal computers; iPad, a range of multi-function tablets; and wearables, homes and accessories, including AirPods, Apple TV, Apple Watch, Beats products and HomePod.

Read further

Quarterly Institutional Ownership for Apple (NASDAQ:AAPL)



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