Baker Boyer National Bank lifted its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,573 shares of the iPhone maker’s stock after acquiring an additional 431 shares during the period. Apple accounts for about 6.7% of Baker Boyer National Bank’s investment portfolio, making the stock its 4th largest position. Baker Boyer National Bank’s holdings in Apple were worth $13,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also modified their holdings of the stock. Joseph Group Capital Management purchased a new position in Apple in the fourth quarter valued at approximately $1,631,000. Cardinal Capital Management Inc. raised its holdings in Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after buying an additional 221 shares during the period. Shore Point Advisors LLC purchased a new position in Apple in the fourth quarter valued at approximately $41,000. Spence Asset Management acquired a new stake in Apple in the second quarter valued at approximately $49,000. Finally, Emerson Wealth LLC grew its position in Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 320 shares in the last quarter. 57.72% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have issued reports on AAPL. Itau BBA Securities began coverage on shares of Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. Morgan Stanley lowered their price objective on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. UBS Group set a $185.00 price objective on shares of Apple in a research report on Wednesday, September 14th. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on shares of Apple in a research report on Monday, August 1st. Finally, KeyCorp raised their price target on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.52.
Apple Trading Down 1.1 %
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.30 EPS. As a group, equities research analysts forecast that Apple Inc. will post 6.11 earnings per share for the current fiscal year.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.61%. Apple’s dividend payout ratio (DPR) is currently 15.18%.
Insider Buying and Selling
In other news, CFO Luca Maestri sold 96,735 shares of the company’s 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 transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
Apple Company Profile
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.
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