Apple Inc. (NASDAQ:AAPL) is Burke & Herbert Bank & Trust Co.’s 4th Largest Position

Burke & Herbert Bank & Trust Co. cut its position in Apple Inc. (NASDAQ:AAPL) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,088 shares of the iPhone maker’s stock after selling 1,519 shares during the quarter. Apple comprises about 3.6% of Burke & Herbert Bank & Trust Co.’s holdings, making the stock its 4th largest position. Burke & Herbert Bank & Trust Co.’s holdings in Apple were worth $15,399,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AAPL. ShankerValleau Wealth Advisors Inc. boosted its stake in Apple by 17.0% in the 2nd quarter. ShankerValleau Wealth Advisors Inc. now owns 5,110 shares of the iPhone maker’s stock worth $1,076,000 after purchasing an additional 744 shares during the period. Davis Capital Management boosted its position in shares of Apple by 0.4% in the second quarter. Davis Capital Management now owns 14,740 shares of the iPhone maker’s stock valued at $3,195,000 after acquiring an additional 61 shares during the period. GAMMA Investing LLC grew its stake in Apple by 74.7% during the second quarter. GAMMA Investing LLC now owns 148,372 shares of the iPhone maker’s stock valued at $31,250,000 after acquiring an additional 63,454 shares in the last quarter. First Hawaiian Bank increased its holdings in Apple by 8.5% during the 2nd quarter. First Hawaiian Bank now owns 134,196 shares of the iPhone maker’s stock worth $28,264,000 after acquiring an additional 10,547 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Apple by 2.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 731,818 shares of the iPhone maker’s stock worth $154,136,000 after purchasing an additional 18,144 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

AAPL stock opened at $255.27 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market capitalization of $3.86 trillion, a P/E ratio of 41.99, a PEG ratio of 2.41 and a beta of 1.23. The business has a 50-day moving average price of $234.97 and a 200 day moving average price of $225.91. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $255.65.

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.39%. Apple’s dividend payout ratio is presently 16.45%.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of Apple 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 transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock valued at $117,004,745 in the last three months. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AAPL shares. Moffett Nathanson dropped their target price on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research report on Tuesday, November 19th. Rosenblatt Securities lifted their target price on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Barclays dropped their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. New Street Research reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their price objective on Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $236.78.

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.