Capital City Trust Co. FL Lowers Stake in Apple Inc. (NASDAQ:AAPL)

Capital City Trust Co. FL lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 98,601 shares of the iPhone maker’s stock after selling 803 shares during the period. Apple comprises 5.6% of Capital City Trust Co. FL’s investment portfolio, making the stock its 2nd largest position. Capital City Trust Co. FL’s holdings in Apple were worth $18,984,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Apple by 0.7% during 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 buying an additional 8,734,393 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Apple by 116,483.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after buying an additional 569,066,184 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Apple by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 291,538,165 shares of the iPhone maker’s stock worth $56,396,763,000 after buying an additional 6,367,053 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Apple by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock worth $38,589,468,000 after buying an additional 7,736,013 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Apple by 14.2% in the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock worth $27,110,586,000 after purchasing an additional 25,926,552 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of recent research reports. Monness Crespi & Hardt upped their target price on Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. The Goldman Sachs Group upped their target price on Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Robert W. Baird upped their target price on Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Piper Sandler lowered their target price on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Finally, UBS Group reaffirmed a “hold” rating and issued a $190.00 target price on shares of Apple in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $204.08.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 366,271 shares of company stock valued at $63,653,887. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $172.69 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The company has a market cap of $2.67 trillion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.13 and a beta of 1.27. The business has a 50 day moving average price of $176.40 and a 200-day moving average price of $182.32. Apple Inc. has a 52 week low of $162.80 and a 52 week high of $199.62.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. The company had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. Apple’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $1.88 earnings per share. Equities analysts anticipate that Apple Inc. will post 6.55 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Friday, February 9th. Apple’s payout ratio is 14.95%.

About Apple

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.