Amarillo National Bank Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Amarillo National Bank trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 13.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,362 shares of the iPhone maker’s stock after selling 7,088 shares during the quarter. Apple accounts for about 1.3% of Amarillo National Bank’s portfolio, making the stock its 14th largest position. Amarillo National Bank’s holdings in Apple were worth $5,764,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Robinson Value Management Ltd. purchased a new stake in Apple during the 3rd quarter valued at about $28,000. Hanseatic Management Services Inc. grew its stake in Apple by 75.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock valued at $34,000 after purchasing an additional 107 shares during the last quarter. HBC Financial Services PLLC grew its stake in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the last quarter. Align Wealth Management LLC purchased a new stake in shares of Apple in the fourth quarter worth about $55,000. Finally, PayPay Securities Corp purchased a new stake in shares of Apple in the fourth quarter worth about $60,000. 57.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Luca Maestri sold 200 shares of the stock in a transaction on Thursday, April 6th. The stock was sold at an average price of $164.92, for a total value of $32,984.00. Following the sale, the chief financial officer now directly owns 177,657 shares in the company, valued at $29,299,192.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Apple news, insider Chris Kondo sold 4,092 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $173.26, for a total value of $708,979.92. Following the sale, the insider now directly owns 33,946 shares in the company, valued at $5,881,483.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Luca Maestri sold 200 shares of the firm’s stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $164.92, for a total value of $32,984.00. Following the completion of the sale, the chief financial officer now owns 177,657 shares in the company, valued at $29,299,192.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 439,529 shares of company stock worth $71,703,657. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 0.2 %

AAPL opened at $171.84 on Thursday. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $176.39. The business has a fifty day simple moving average of $166.08 and a 200-day simple moving average of $151.25. The firm has a market cap of $2.70 trillion, a P/E ratio of 29.17, a P/E/G ratio of 2.33 and a beta of 1.29. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.56.

Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, topping the consensus estimate of $1.44 by $0.08. Apple had a return on equity of 165.72% and a net margin of 24.49%. The business had revenue of $94.84 billion during the quarter, compared to analyst estimates of $92.84 billion. During the same period last year, the business posted $1.52 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 5.99 earnings per share for the current year.

Apple announced that its board has authorized a share buyback plan on Thursday, May 4th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were given a dividend of $0.24 per share. This is a positive change from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, May 12th. Apple’s dividend payout ratio (DPR) is currently 16.30%.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent research reports. Morgan Stanley upped their target price on Apple from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 5th. Atlantic Securities upped their target price on Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, May 5th. Piper Sandler lowered their target price on Apple from $195.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, May 5th. Canaccord Genuity Group upped their target price on Apple from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Finally, The Goldman Sachs Group assumed coverage on Apple in a report on Sunday, March 5th. They issued a “buy” rating and a $199.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $174.74.

Apple Profile

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.