Cape ANN Savings Bank Trims Position in Apple Inc. (NASDAQ:AAPL)

Cape ANN Savings Bank trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,698 shares of the iPhone maker’s stock after selling 3,500 shares during the quarter. Apple accounts for about 5.4% of Cape ANN Savings Bank’s portfolio, making the stock its 3rd largest position. Cape ANN Savings Bank’s holdings in Apple were worth $8,154,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Donald L. Hagan LLC increased its stake in shares of Apple by 0.3% during the first quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after buying an additional 61 shares during the period. Goodwin Daniel L boosted its position in Apple by 0.5% during the first quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after purchasing an additional 62 shares in the last quarter. Opus Capital Group LLC boosted its holdings in Apple by 0.3% in the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after acquiring an additional 63 shares in the last quarter. Norwood Financial Corp boosted its holdings in Apple by 0.9% in the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after acquiring an additional 65 shares in the last quarter. Finally, Investors Research Corp boosted its holdings in Apple by 0.4% in the first quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock worth $2,814,000 after acquiring an additional 66 shares in the last quarter. 57.72% of the stock is owned by institutional investors.

Insider Activity at Apple

In other Apple news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

AAPL stock opened at $153.84 on Wednesday. The business has a 50-day moving average price of $159.21 and a 200 day moving average price of $156.27. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The company has a market capitalization of $2.47 trillion, a P/E ratio of 25.39, a PEG ratio of 2.03 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. Apple’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.30 earnings per share. As a group, equities research analysts forecast that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s payout ratio is currently 15.18%.

Wall Street Analyst Weigh In

AAPL has been the subject of several research analyst reports. Oppenheimer restated an “outperform” rating and issued a $190.00 price objective on shares of Apple in a research note on Wednesday, June 8th. Rosenblatt Securities cut their price objective on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. Morgan Stanley decreased their price target on Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Itaú Unibanco began coverage on Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Finally, KeyCorp upped their price objective on Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.52.

About Apple

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

See Also

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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