TruWealth Advisors LLC Increases Stock Position in Apple Inc. (NASDAQ:AAPL)

TruWealth Advisors LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 181,552 shares of the iPhone maker’s stock after acquiring an additional 1,441 shares during the period. Apple comprises 2.6% of TruWealth Advisors LLC’s investment portfolio, making the stock its 8th biggest position. TruWealth Advisors LLC’s holdings in Apple were worth $42,301,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Verus Financial Partners Inc. grew its stake in shares of Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after buying an additional 48 shares during the last quarter. Brown Financial Advisory increased its holdings in shares of Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after acquiring an additional 50 shares in the last quarter. Core Wealth Management Inc. raised its position in shares of Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares during the last quarter. Lowery Thomas LLC raised its holdings in Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after buying an additional 50 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. lifted its stake in shares of Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after buying an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $247.77 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $248.21. The company has a market capitalization of $3.75 trillion, a price-to-earnings ratio of 40.75, a PEG ratio of 2.38 and a beta of 1.23. The firm’s 50-day moving average is $230.80 and its 200 day moving average is $222.26.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. Apple’s dividend payout ratio (DPR) is 16.45%.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Maxim Group lifted their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Rosenblatt Securities raised their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.78.

About Apple

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.