Riverview Trust Co Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

Riverview Trust Co lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,490 shares of the iPhone maker’s stock after selling 79 shares during the period. Apple makes up 6.2% of Riverview Trust Co’s investment portfolio, making the stock its 2nd biggest holding. Riverview Trust Co’s holdings in Apple were worth $7,104,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hershey Financial Advisers LLC acquired a new position in Apple during the second quarter worth $42,000. Christopher J. Hasenberg Inc raised its holdings in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. Cordant Inc. lifted its position in Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares in the last quarter. Hoese & Co LLP boosted its stake in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. bought a new stake in Apple during the 2nd quarter worth approximately $206,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Down 0.5 %

AAPL stock opened at $246.49 on Thursday. The company’s 50 day moving average is $231.24 and its 200 day moving average is $222.66. The stock has a market cap of $3.73 trillion, a price-to-earnings ratio of 40.54, a price-to-earnings-growth ratio of 2.42 and a beta of 1.23. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $250.80.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Analysts Set New Price Targets

AAPL has been the topic of several recent analyst reports. Citigroup lifted their target price on shares of Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Moffett Nathanson cut their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. Melius Research reaffirmed a “buy” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. UBS Group reissued a “neutral” rating and issued a $236.00 price target on shares of Apple in a report on Monday, December 2nd. Finally, Barclays dropped their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $236.78.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 in the last 90 days. 0.06% of the stock is owned by company insiders.

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.