Moody National Bank Trust Division Has $31.48 Million Position in Apple Inc. (NASDAQ:AAPL)

Moody National Bank Trust Division reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 149,440 shares of the iPhone maker’s stock after selling 802 shares during the quarter. Apple accounts for 2.4% of Moody National Bank Trust Division’s portfolio, making the stock its 4th biggest holding. Moody National Bank Trust Division’s holdings in Apple were worth $31,475,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AAPL. Arvest Investments Inc. bought a new stake in shares of Apple in the fourth quarter worth $3,377,000. Commonwealth Retirement Investments LLC boosted its position in Apple by 22.6% in the fourth quarter. Commonwealth Retirement Investments LLC now owns 9,211 shares of the iPhone maker’s stock worth $1,773,000 after purchasing an additional 1,696 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Apple by 14,395.4% during the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after purchasing an additional 70,212,651 shares during the period. Augustine Asset Management Inc. increased its position in shares of Apple by 3.0% during the 4th quarter. Augustine Asset Management Inc. now owns 137,306 shares of the iPhone maker’s stock valued at $26,436,000 after purchasing an additional 3,982 shares during the last quarter. Finally, Traveka Wealth LLC bought a new position in shares of Apple in the 4th quarter worth approximately $6,863,000. 60.41% of the stock is currently owned by institutional investors.

Apple Trading Up 1.0 %

AAPL opened at $226.84 on Monday. The stock has a 50-day moving average of $220.32 and a 200 day moving average of $194.47. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The firm has a market cap of $3.48 trillion, a P/E ratio of 35.28, a P/E/G ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 145.35%. The company had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. Apple’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts forecast that Apple Inc. will post 6.61 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

Apple declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Canaccord Genuity Group upped their target price on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Saturday, May 4th. The Goldman Sachs Group lifted their target price on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Sanford C. Bernstein upped their price target on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Moffett Nathanson began coverage on Apple in a research note on Monday, August 19th. They set a “neutral” rating and a $211.00 price objective for the company. Finally, Cfra lifted their price target on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $233.63.

Insider Buying and Selling at Apple

In related news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders sold 188,884 shares of company stock worth $38,092,387 over the last 90 days. Company 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.