Triton Financial Group Inc Purchases Shares of 50,042 Apple Inc. $AAPL

Triton Financial Group Inc acquired a new stake in Apple Inc. (NASDAQ:AAPL) in the 2nd quarter, HoldingsChannel reports. The fund acquired 50,042 shares of the iPhone maker’s stock, valued at approximately $10,267,000. Apple makes up 7.5% of Triton Financial Group Inc’s investment portfolio, making the stock its largest holding.

A number of other hedge funds have also recently modified their holdings of AAPL. Kingstone Capital Partners Texas LLC increased its holdings 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 valued at $39,065,374,000 after purchasing an additional 205,656,808 shares in the last quarter. Nuveen LLC purchased a new stake in Apple in the 1st quarter worth $17,472,482,000. Northern Trust Corp boosted its stake in shares of Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. Amundi lifted its stake in Apple by 27.4% in the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after purchasing an additional 14,651,321 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after buying an additional 13,137,968 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $247.39, for a total value of $1,038,790.61. Following the transaction, the chief financial officer owned 8,765 shares in the company, valued at approximately $2,168,373.35. This represents a 32.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 228,052 shares of company stock worth $58,604,588. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $266.25 on Friday. The business has a 50-day simple moving average of $258.74 and a 200-day simple moving average of $228.42. The company has a market cap of $3.93 trillion, a PE ratio of 40.40, a P/E/G ratio of 2.62 and a beta of 1.09. Apple Inc. has a one year low of $169.21 and a one year high of $277.32. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. The company had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 EPS. On average, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently weighed in on AAPL. JPMorgan Chase & Co. increased their price objective on Apple from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Wedbush reaffirmed an “outperform” rating on shares of Apple in a research note on Tuesday, October 21st. Robert W. Baird set a $300.00 target price on Apple in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Apple in a research report on Wednesday. Finally, CLSA raised shares of Apple to a “strong-buy” rating in a research report on Sunday, October 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $278.22.

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.