Summit Trail Advisors LLC Purchases 30,434 Shares of Apple Inc. (NASDAQ:AAPL)

Summit Trail Advisors LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 10.6% during the third quarter, Holdings Channel reports. The institutional investor owned 317,612 shares of the iPhone maker’s stock after purchasing an additional 30,434 shares during the quarter. Apple comprises 1.8% of Summit Trail Advisors LLC’s holdings, making the stock its 8th biggest position. Summit Trail Advisors LLC’s holdings in Apple were worth $74,004,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bull Oak Capital LLC raised its position in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc grew its position in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. ARK Investment Management LLC acquired a new stake in Apple during the third quarter worth approximately $110,000. Finally, Cordant Inc. grew its position in Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AAPL shares. UBS Group reiterated a “neutral” rating and issued a $236.00 price target on shares of Apple in a research note on Monday, December 2nd. TD Cowen restated a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Bank of America boosted their price objective on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Jefferies Financial Group cut Apple from a “hold” rating to an “underperform” rating and dropped their price target for the company from $211.84 to $200.75 in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.52.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $236.00 on Monday. The firm has a market capitalization of $3.55 trillion, a P/E ratio of 38.82, a P/E/G ratio of 2.39 and a beta of 1.20. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock’s 50-day simple moving average is $241.68 and its two-hundred day simple moving average is $230.84. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. As a group, equities analysts anticipate that Apple Inc. will post 7.34 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, February 10th. Apple’s payout ratio is currently 16.45%.

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.