Apple Inc. (NASDAQ:AAPL) Shares Acquired by Truist Financial Corp

Truist Financial Corp increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,303,847 shares of the iPhone maker's stock after acquiring an additional 213,139 shares during the quarter. Apple makes up about 2.9% of Truist Financial Corp's portfolio, making the stock its 3rd biggest holding. Truist Financial Corp's holdings in Apple were worth $1,829,029,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Drystone LLC purchased a new position in shares of Apple during the 4th quarter worth $25,000. SPX Gestao de Recursos Ltda acquired a new position in Apple in the third quarter valued at about $71,000. Teachers Insurance & Annuity Association of America purchased a new position in Apple during the third quarter worth about $77,000. ARK Investment Management LLC acquired a new stake in shares of Apple during the third quarter valued at about $110,000. Finally, Collier Financial purchased a new stake in shares of Apple in the 4th quarter valued at approximately $140,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president now owns 179,158 shares of the company's stock, valued at $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at $87,377,116.59. The trade was a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 182,451 shares of company stock valued at $40,818,720. Insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of Apple stock opened at $204.57 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 52 week low of $166.21 and a 52 week high of $260.10. The firm's 50 day moving average is $217.14 and its two-hundred day moving average is $229.52. The firm has a market capitalization of $3.07 trillion, a P/E ratio of 32.47, a P/E/G ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, February 10th. Apple's dividend payout ratio (DPR) is currently 15.87%.

Analyst Ratings Changes

Several analysts recently weighed in on AAPL shares. Bank of America dropped their target price on shares of Apple from $265.00 to $250.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. UBS Group dropped their price objective on Apple from $236.00 to $210.00 and set a "neutral" rating for the company in a research note on Wednesday. Oppenheimer lowered Apple from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Maxim Group lifted their target price on Apple to $215.00 and gave the company a "hold" rating in a research report on Friday, February 21st. Finally, Morgan Stanley reduced their price target on shares of Apple from $252.00 to $220.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $234.17.

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.

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