Fiduciary Trust Co. Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

Fiduciary Trust Co. lessened its stake in Apple Inc. (NASDAQ:AAPL) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,757,959 shares of the iPhone maker’s stock after selling 24,494 shares during the period. Apple comprises 6.0% of Fiduciary Trust Co.’s portfolio, making the stock its 2nd biggest holding. Fiduciary Trust Co.’s holdings in Apple were worth $340,991,000 as of its most recent filing with the SEC.

A number of 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 during the 1st quarter worth about $30,000. Summit Wealth Group LLC lifted its stake in Apple by 16,252.3% during 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 holdings in Apple by 21.7% during the first 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 in the last quarter. Clear Perspectives Financial Planning LLC grew its stake in shares of Apple by 27.3% in the 1st quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after purchasing an additional 211 shares during the period. Finally, Magellan Asset Management Ltd raised its holdings in shares of Apple by 10.6% in the 2nd quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock worth $181,000 after buying an additional 127 shares in the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on AAPL shares. KeyCorp reiterated a “sector weight” rating on shares of Apple in a research report on Monday, October 30th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $195.00 target price on shares of Apple in a report on Monday, October 9th. Tigress Financial lifted their price target on shares of Apple from $225.00 to $240.00 and gave the company a “strong-buy” rating in a report on Thursday. StockNews.com started coverage on shares of Apple in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $240.00 target price on shares of Apple in a report on Wednesday, November 1st. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $198.25.

Apple Stock Down 0.0 %

Apple stock opened at $189.69 on Friday. The firm has a market capitalization of $2.95 trillion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.60 and a beta of 1.30. The company’s 50 day simple moving average is $176.91 and its 200 day simple moving average is $180.76. 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 Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $198.23.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share for the quarter, topping 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 company had revenue of $89.50 billion for the quarter, compared to analyst estimates of $89.34 billion. During the same period last year, the business posted $1.29 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 6.56 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were paid a $0.24 dividend. The ex-dividend date was Friday, November 10th. This represents a $0.96 dividend on an annualized basis and a yield of 0.51%. Apple’s payout ratio is 15.69%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,806 shares of Apple stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $184.04, for a total transaction of $884,496.24. Following the transaction, the insider now owns 34,687 shares in the company, valued at approximately $6,383,795.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, insider Chris Kondo sold 4,806 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $184.04, for a total transaction of $884,496.24. Following the sale, the insider now directly owns 34,687 shares in the company, valued at approximately $6,383,795.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $11,279,400.96. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $23,483,548.95. The disclosure for this sale can be found here. Insiders sold 444,391 shares of company stock worth $77,370,046 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

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.