Apple Inc. (NASDAQ:AAPL) is Fifth Third Bancorp’s Largest Position

Fifth Third Bancorp reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,177,702 shares of the iPhone maker’s stock after selling 141,210 shares during the period. Apple comprises about 5.1% of Fifth Third Bancorp’s holdings, making the stock its biggest position. Fifth Third Bancorp’s holdings in Apple were worth $1,189,393,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlantic Private Wealth LLC purchased a new position in shares of Apple in the 1st quarter valued at approximately $30,000. Wyrmwood Management LLC raised its position in Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares during the last quarter. Gilfoyle & Co LLC raised its position in Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after buying an additional 118 shares during the last quarter. Summit Wealth Group LLC raised its position in Apple by 16,252.3% during the 1st quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after buying an additional 6,949,659 shares during the last quarter. Finally, HBC Financial Services PLLC raised its position in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other Apple news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction dated 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 approximately $18,768,046.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction dated Thursday, April 11th. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 366,271 shares of company stock worth $63,653,887. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AAPL shares. Piper Sandler reduced their price target on shares of Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Redburn Partners lowered shares of Apple to a “neutral” rating and set a $200.00 price target for the company. in a research report on Wednesday, January 10th. DZ Bank reissued a “hold” rating and set a $180.00 price target on shares of Apple in a research report on Thursday, March 28th. UBS Group reaffirmed a “hold” rating and set a $190.00 price objective on shares of Apple in a research note on Monday, March 25th. Finally, Citigroup reaffirmed a “buy” rating and set a $225.00 price objective on shares of Apple in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.34.

Apple Stock Down 0.8 %

Shares of AAPL opened at $168.00 on Thursday. The firm has a market cap of $2.59 trillion, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 2.08 and a beta of 1.27. Apple Inc. has a 12-month low of $162.80 and a 12-month high of $199.62. The company’s 50-day moving average price is $175.57 and its 200 day moving average price is $182.21. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.09. The firm had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. Apple’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 EPS. On average, sell-side analysts forecast that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were issued a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 annualized dividend and a yield of 0.57%. Apple’s dividend payout ratio (DPR) is currently 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.