Apple Inc. (NASDAQ:AAPL) Shares Sold by Farmers & Merchants Trust Co of Chambersburg PA

Farmers & Merchants Trust Co of Chambersburg PA trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,248 shares of the iPhone maker’s stock after selling 918 shares during the period. Apple comprises about 2.2% of Farmers & Merchants Trust Co of Chambersburg PA’s investment portfolio, making the stock its 8th largest holding. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Apple were worth $4,283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caliber Wealth Management LLC boosted its position in shares of Apple by 4.3% during the third quarter. Caliber Wealth Management LLC now owns 16,457 shares of the iPhone maker’s stock worth $2,818,000 after buying an additional 680 shares during the period. Hibernia Wealth Partners LLC acquired a new position in shares of Apple during the third quarter worth about $1,265,000. Udine Wealth Management Inc. boosted its position in shares of Apple by 4.8% during the third quarter. Udine Wealth Management Inc. now owns 95,897 shares of the iPhone maker’s stock worth $16,419,000 after buying an additional 4,362 shares during the period. Fortress Wealth Group LLC boosted its position in shares of Apple by 1.9% during the third quarter. Fortress Wealth Group LLC now owns 19,030 shares of the iPhone maker’s stock worth $3,281,000 after buying an additional 347 shares during the period. Finally, WealthOne LLC boosted its position in shares of Apple by 2.7% during the third quarter. WealthOne LLC now owns 101,538 shares of the iPhone maker’s stock worth $17,384,000 after buying an additional 2,647 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Trading Up 0.5 %

Shares of NASDAQ:AAPL opened at $169.89 on Friday. The business’s 50 day simple moving average is $173.30 and its 200 day simple moving average is $181.85. The company has a market capitalization of $2.62 trillion, a P/E ratio of 26.46, a P/E/G ratio of 2.01 and a beta of 1.27. Apple Inc. has a 1 year low of $162.80 and a 1 year 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. The firm had revenue of $119.60 billion for 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%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.88 EPS. On average, research analysts anticipate that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio is presently 14.95%.

Insider Buying and Selling at Apple

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction on 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 sale, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the sale, the chief executive officer now directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. In the last quarter, insiders have sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AAPL shares. UBS Group reiterated a “hold” rating and set a $190.00 target price on shares of Apple in a report on Monday, March 25th. Morgan Stanley dropped their target price on Apple from $220.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday. 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. JPMorgan Chase & Co. dropped their target price on Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Finally, Bank of America upgraded Apple from a “neutral” rating to a “buy” rating and upped their price objective for the company from $208.00 to $225.00 in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $203.05.

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.