Apple Inc. (NASDAQ:AAPL) is TriaGen Wealth Management LLC’s Largest Position

TriaGen Wealth Management LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 136.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,691 shares of the iPhone maker’s stock after buying an additional 98,984 shares during the period. Apple makes up 13.4% of TriaGen Wealth Management LLC’s investment portfolio, making the stock its biggest holding. TriaGen Wealth Management LLC’s holdings in Apple were worth $40,004,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Harfst & Associates Inc. grew its position in shares of Apple by 2.0% during the 3rd quarter. Harfst & Associates Inc. now owns 38,569 shares of the iPhone maker’s stock valued at $8,987,000 after purchasing an additional 756 shares in the last quarter. Clarity Wealth Advisors LLC grew its position in shares of Apple by 0.4% during the 3rd quarter. Clarity Wealth Advisors LLC now owns 131,793 shares of the iPhone maker’s stock valued at $30,708,000 after purchasing an additional 485 shares in the last quarter. Gries Financial LLC grew its position in shares of Apple by 19.9% during the 3rd quarter. Gries Financial LLC now owns 32,145 shares of the iPhone maker’s stock valued at $7,490,000 after purchasing an additional 5,343 shares in the last quarter. Alpha Financial Advisors LLC grew its position in shares of Apple by 11.5% during the 3rd quarter. Alpha Financial Advisors LLC now owns 2,827 shares of the iPhone maker’s stock valued at $659,000 after purchasing an additional 292 shares in the last quarter. Finally, Legacy Financial Strategies LLC grew its position in shares of Apple by 6.2% during the 3rd quarter. Legacy Financial Strategies LLC now owns 31,438 shares of the iPhone maker’s stock valued at $7,325,000 after purchasing an additional 1,825 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of recent analyst reports. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Loop Capital reduced their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Moffett Nathanson dropped their price objective on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Finally, StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $236.78.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $247.96 on Friday. The company has a market cap of $3.75 trillion, a price-to-earnings ratio of 40.78, a price-to-earnings-growth ratio of 2.42 and a beta of 1.23. The company has a 50-day moving average price of $231.63 and a 200-day moving average price of $222.83. 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 $250.80.

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

Apple Announces Dividend

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

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock worth $92,007,745 over the last 90 days. 0.06% of the stock is owned by company insiders.

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.