Tritonpoint Wealth LLC Invests $83.23 Million in Apple Inc. (NASDAQ:AAPL)

Tritonpoint Wealth LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 432,290 shares of the iPhone maker’s stock, valued at approximately $83,229,000. Apple makes up 8.1% of Tritonpoint Wealth LLC’s investment portfolio, making the stock its largest holding.

A number of other large investors also recently bought and sold shares of AAPL. Stratos Wealth Advisors LLC grew its stake in Apple by 1.3% in the 4th quarter. Stratos Wealth Advisors LLC now owns 323,639 shares of the iPhone maker’s stock valued at $62,310,000 after acquiring an additional 4,006 shares during the period. Grimes & Company Inc. grew its position in shares of Apple by 1.2% in the fourth quarter. Grimes & Company Inc. now owns 407,409 shares of the iPhone maker’s stock valued at $78,438,000 after purchasing an additional 4,948 shares during the period. Canal Capital Management LLC increased its stake in shares of Apple by 0.9% during the fourth quarter. Canal Capital Management LLC now owns 123,429 shares of the iPhone maker’s stock worth $23,764,000 after purchasing an additional 1,099 shares in the last quarter. Venture Visionary Partners LLC raised its position in shares of Apple by 0.3% during the 4th quarter. Venture Visionary Partners LLC now owns 351,145 shares of the iPhone maker’s stock worth $67,607,000 after purchasing an additional 943 shares during the last quarter. Finally, Detalus Advisors LLC lifted its stake in Apple by 0.7% in the 4th quarter. Detalus Advisors LLC now owns 20,601 shares of the iPhone maker’s stock valued at $3,966,000 after buying an additional 148 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity

In related news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. UBS Group reiterated a “hold” rating and set a $190.00 price objective on shares of Apple in a research note on Monday, March 25th. DA Davidson assumed coverage on Apple in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 price target for the company. Piper Sandler Companies lowered Apple to a “neutral” rating and decreased their price objective for the company from $220.00 to $205.00 in a report on Thursday, January 4th. Citigroup dropped their target price on shares of Apple from $220.00 to $210.00 and set a “buy” rating for the company in a report on Monday. Finally, Redburn Atlantic downgraded shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 price target on the stock. in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $202.62.

Apple Stock Up 2.5 %

Shares of NASDAQ AAPL opened at $173.50 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The business’s 50 day moving average is $172.86 and its two-hundred day moving average is $181.77. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62. The firm has a market cap of $2.68 trillion, a price-to-earnings ratio of 27.02, a PEG ratio of 2.04 and a beta of 1.27.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The firm had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. During the same quarter in the previous year, the business earned $1.88 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 6.54 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. Apple’s dividend payout ratio is presently 14.95%.

Apple 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.