Indiana Trust & Investment Management CO Has $13.15 Million Stake in Apple Inc. (NASDAQ:AAPL)

Indiana Trust & Investment Management CO lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,312 shares of the iPhone maker’s stock after selling 645 shares during the quarter. Apple comprises 5.9% of Indiana Trust & Investment Management CO’s investment portfolio, making the stock its 2nd biggest position. Indiana Trust & Investment Management CO’s holdings in Apple were worth $13,152,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Apple during the fourth quarter worth about $560,388,000. Hudson Bay Capital Management LP acquired a new position in Apple during the third quarter worth about $487,435,000. Barclays PLC raised its stake in Apple by 6.0% during the third quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock worth $8,519,244,000 after acquiring an additional 2,826,709 shares in the last quarter. Granite Bay Wealth Management LLC bought a new stake in shares of Apple during the third quarter worth about $461,021,000. Finally, Morgan Stanley grew its holdings in shares of Apple by 1.0% during the third quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock worth $35,394,751,000 after purchasing an additional 2,018,010 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity at Apple

In related 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 value of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Arthur D. Levinson sold 100,000 shares of the 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this link. 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 of the company’s stock, valued at $574,260,512.21. The disclosure for this sale can be found here. In the last three months, insiders sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AAPL. Oppenheimer restated an “outperform” rating and set a $200.00 price target on shares of Apple in a report on Friday, February 2nd. JPMorgan Chase & Co. reduced their price target on Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. The Goldman Sachs Group boosted their price target on Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Maxim Group began coverage on Apple in a report on Wednesday, April 17th. They set a “hold” rating and a $178.00 price target on the stock. Finally, Robert W. Baird boosted 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 equities research 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $203.05.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $169.89 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. Apple Inc. has a twelve month low of $162.80 and a twelve month high of $199.62. The stock’s 50 day moving average is $173.30 and its 200-day moving average is $181.85. The firm has a market capitalization of $2.62 trillion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.01 and a beta of 1.27.

Apple (NASDAQ:AAPL) last released 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 business had revenue of $119.60 billion during the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. Apple’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 EPS. Sell-side analysts forecast that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Dividend Announcement

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

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.