Sageworth Trust Co Has $2.09 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Sageworth Trust Co cut its stake in Apple Inc. (NASDAQ:AAPL) by 19.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 8,347 shares of the iPhone maker’s stock after selling 2,009 shares during the period. Sageworth Trust Co’s holdings in Apple were worth $2,090,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Drystone LLC acquired a new stake in shares of Apple during the fourth quarter worth $25,000. Bull Oak Capital LLC boosted its position in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in Apple during the 3rd quarter worth about $71,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Apple in the 3rd quarter worth about $77,000. Finally, ARK Investment Management LLC bought a new position in shares of Apple in the 3rd quarter worth about $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $172.42 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The stock has a market capitalization of $2.59 trillion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The business’s 50 day simple moving average is $225.83 and its two-hundred day simple moving average is $232.01.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

Analysts Set New Price Targets

Several research firms recently commented on AAPL. Evercore ISI raised their target price on Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 18th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Friday, April 4th. Monness Crespi & Hardt increased their price objective on shares of Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Barclays boosted their target price on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Finally, Moffett Nathanson reissued a “sell” rating and issued a $188.00 price target (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $241.23.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. This trade represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the 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 completion of the transaction, the senior vice president now owns 179,158 shares in the company, valued at $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock valued at $40,818,720 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

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.