Indiana Trust & Investment Management Co Cuts Position in Apple Inc. (NASDAQ:AAPL)

Indiana Trust & Investment Management Co lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,722 shares of the iPhone maker’s stock after selling 2,454 shares during the quarter. Apple comprises 5.3% of Indiana Trust & Investment Management Co’s investment portfolio, making the stock its 3rd biggest holding. Indiana Trust & Investment Management Co’s holdings in Apple were worth $15,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Drystone LLC purchased a new stake in shares of Apple during the fourth quarter worth $25,000. Bull Oak Capital LLC lifted its position in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda purchased a new position in Apple in the third quarter worth $71,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Apple during the 3rd quarter valued at about $77,000. Finally, ARK Investment Management LLC purchased a new position in Apple in the 3rd quarter worth $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. This represents a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. This trade represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 182,451 shares of company stock worth $40,818,720. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AAPL has been the subject of a number of recent analyst reports. Redburn Partners set a $230.00 price target on Apple in a research report on Friday, January 31st. TD Cowen reissued a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Evercore ISI lifted their price objective on Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, March 18th. Bank of America reduced their target price on shares of Apple from $265.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Finally, UBS Group lifted their price objective on Apple to $236.00 and gave the company a “buy” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $235.85.

Apple Stock Down 0.2 %

NASDAQ AAPL opened at $202.14 on Wednesday. The company has a market capitalization of $3.04 trillion, a P/E ratio of 32.09, a PEG ratio of 2.44 and a beta of 1.26. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The company’s 50 day simple moving average is $221.65 and its 200 day simple moving average is $230.79. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is presently 15.87%.

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.