Apple Inc. (NASDAQ:AAPL) Stake Reduced by Iowa State Bank

Iowa State Bank cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,798 shares of the iPhone maker’s stock after selling 84 shares during the quarter. Apple comprises approximately 3.9% of Iowa State Bank’s investment portfolio, making the stock its 4th biggest position. Iowa State Bank’s holdings in Apple were worth $16,134,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Wyrmwood Management LLC raised its position in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 69 shares during the period. Gilfoyle & Co LLC raised its holdings in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the period. PayPay Securities Corp lifted its stake in Apple by 70.2% during the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after acquiring an additional 210 shares in the last quarter. Cordant Inc. boosted its holdings in Apple by 27.7% during the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after acquiring an additional 140 shares during the period. Finally, Life Planning Partners Inc acquired a new position in Apple in the 4th quarter valued at about $132,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Trading Up 0.6 %

NASDAQ AAPL opened at $166.90 on Wednesday. The company has a market cap of $2.58 trillion, a P/E ratio of 26.00, a P/E/G ratio of 1.99 and a beta of 1.27. The company has a 50-day moving average of $173.88 and a 200-day moving average of $182.03. Apple Inc. has a 12 month low of $162.80 and a 12 month high of $199.62. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last issued its 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 business had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.88 EPS. As a group, equities analysts predict that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s payout ratio is currently 14.95%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AAPL shares. Wedbush reissued an “outperform” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, April 9th. UBS Group reissued a “hold” rating and issued a $190.00 price target on shares of Apple in a research report on Monday, March 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price objective on shares of Apple in a research report on Tuesday, April 16th. Citigroup reiterated a “buy” rating and issued a $225.00 target price on shares of Apple in a report on Friday, February 16th. Finally, Robert W. Baird upped their price target on Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. 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 assigned a strong buy rating to the company. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.05.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction that occurred on 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 owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction on 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 sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders sold a total of 366,271 shares of company stock valued at $63,653,887 over the last ninety days. Insiders own 0.06% of the company’s stock.

Apple 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.