Community Bank N.A. cut its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 402,081 shares of the iPhone maker’s stock after selling 3,647 shares during the quarter. Apple makes up 10.1% of Community Bank N.A.’s portfolio, making the stock its largest holding. Community Bank N.A.’s holdings in Apple were worth $77,413,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Wyrmwood Management LLC boosted its stake in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares in the last quarter. Gilfoyle & Co LLC lifted its position in Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after buying an additional 118 shares in the last quarter. PayPay Securities Corp grew its holdings in Apple by 70.2% during the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after acquiring an additional 210 shares during the last quarter. Cordant Inc. increased its position in Apple by 27.7% in the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after acquiring an additional 140 shares in the last quarter. Finally, Friedenthal Financial bought a new position in shares of Apple in the fourth quarter worth about $111,000. Institutional investors and hedge funds own 60.41% of the company’s stock.
Apple Trading Up 1.7 %
NASDAQ:AAPL opened at $189.98 on Monday. The company has a market cap of $2.91 trillion, a P/E ratio of 29.55, a price-to-earnings-growth ratio of 2.32 and a beta of 1.26. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62. The business has a 50 day moving average price of $175.89 and a two-hundred day moving average price of $183.04. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24.
Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 6.57 EPS for the current fiscal year.
Apple declared that its board has authorized a share repurchase program on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is presently 15.55%.
Insider Activity at Apple
In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction dated 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 transaction, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 371,270 shares of company stock valued at $64,605,696. Insiders own 0.06% of the company’s stock.
Wall Street Analyst Weigh In
AAPL has been the topic of several research analyst reports. UBS Group reissued a “hold” rating and set a $190.00 price target on shares of Apple in a research note on Monday, March 25th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 target price on shares of Apple in a research note on Friday, May 3rd. Morgan Stanley boosted their target price on Apple from $210.00 to $216.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Bank of America raised their price target on Apple from $225.00 to $230.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.44.
Check Out Our Latest Analysis on Apple
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.
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