City Holding Co. Trims Holdings in Apple Inc. (NASDAQ:AAPL)

City Holding Co. lowered its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 164,375 shares of the iPhone maker’s stock after selling 2,616 shares during the quarter. Apple accounts for about 4.2% of City Holding Co.’s investment portfolio, making the stock its 2nd largest holding. City Holding Co.’s holdings in Apple were worth $22,473,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares during the last quarter. State Street Corp grew its holdings in Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after acquiring an additional 10,951,705 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Apple by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after purchasing an additional 4,456,954 shares during the period. Norges Bank purchased a new stake in shares of Apple in the 4th quarter worth about $25,228,507,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Apple by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after purchasing an additional 1,155,915 shares during the period. Institutional investors own 57.72% of the company’s stock.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 96,735 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Apple news, CFO Luca Maestri sold 96,735 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the company’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 completion of the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $154.48 on Tuesday. The firm has a 50 day moving average of $159.65 and a 200 day moving average of $155.94. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $2.48 trillion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.23. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 earnings per share. On average, research analysts anticipate that Apple Inc. will post 6.11 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.60%. Apple’s dividend payout ratio (DPR) is 15.18%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAPL. set a $175.00 target price on shares of Apple in a research report on Friday, July 29th. Deutsche Bank Aktiengesellschaft set a $175.00 target price on shares of Apple in a research report on Monday, August 1st. Evercore ISI lifted their price target on shares of Apple from $180.00 to $185.00 in a research report on Friday, July 29th. Wells Fargo & Company lowered their price target on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Finally, KeyCorp lifted their price target on shares of Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, August 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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