Apple Inc. (NASDAQ:AAPL) is Private Trust Co. NA’s Largest Position

Private Trust Co. NA reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,338 shares of the iPhone maker’s stock after selling 785 shares during the period. Apple comprises 4.4% of Private Trust Co. NA’s portfolio, making the stock its largest holding. Private Trust Co. NA’s holdings in Apple were worth $35,174,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atlantic Private Wealth LLC bought a new position in shares of Apple in the first quarter worth approximately $30,000. Summit Wealth Group LLC boosted its position in shares of Apple by 16,252.3% in the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares during the period. HBC Financial Services PLLC boosted its position in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the period. Clear Perspectives Financial Planning LLC boosted its position in shares of Apple by 27.3% in the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after purchasing an additional 211 shares during the period. Finally, Magellan Asset Management Ltd boosted its position in shares of Apple by 10.6% in the second quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock worth $181,000 after purchasing an additional 127 shares during the period. 58.51% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Down 0.3 %

Shares of AAPL opened at $182.41 on Friday. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $198.23. The company has a 50-day moving average of $176.54 and a 200 day moving average of $179.80. The firm has a market capitalization of $2.84 trillion, a price-to-earnings ratio of 29.81, a PEG ratio of 2.51 and a beta of 1.30. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.99 and a quick ratio of 0.94.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, beating the consensus estimate of $1.39 by $0.07. Apple had a net margin of 25.31% and a return on equity of 160.78%. The business had revenue of $89.50 billion during the quarter, compared to analyst estimates of $89.34 billion. During the same quarter in the previous year, the business posted $1.29 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 6.54 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be issued a $0.24 dividend. The ex-dividend date is Friday, November 10th. This represents a $0.96 annualized dividend and a dividend yield of 0.53%. Apple’s dividend payout ratio is currently 15.69%.

Insider Activity

In other news, CEO Timothy D. Cook sold 240,569 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the sale, the chief executive officer now owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Deirdre O’brien sold 65,536 shares of Apple stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $23,483,548.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the completion of the transaction, the chief executive officer now directly owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 439,585 shares of company stock worth $76,485,550. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AAPL shares. Canaccord Genuity Group upped their price target on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Evercore ISI reiterated an “outperform” rating and issued a $210.00 price target on shares of Apple in a research report on Thursday, September 28th. Raymond James upped their target price on shares of Apple from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Canaccord Genuity Group upped their target price on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, Jefferies Financial Group dropped their target price on shares of Apple from $220.00 to $195.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $197.82.

Apple Company 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.