Camden National Bank Has $4.15 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Camden National Bank decreased its stake in Apple Inc. (NASDAQ:AAPL) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,566 shares of the iPhone maker’s stock after selling 623 shares during the period. Camden National Bank’s holdings in Apple were worth $4,148,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. O Connor Financial Group LLC boosted its position in shares of Apple by 1.2% in the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after purchasing an additional 41 shares during the last quarter. Menard Financial Group LLC boosted its stake in Apple by 0.4% during the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock worth $2,848,000 after acquiring an additional 48 shares during the last quarter. Hanseatic Management Services Inc. grew its holdings in Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock valued at $945,000 after purchasing an additional 48 shares during the period. Family Capital Management Inc. increased its stake in Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock valued at $4,235,000 after purchasing an additional 48 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Apple by 0.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock valued at $4,178,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares of the company’s stock, valued at $40,072,269.86. This trade represents a 17.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock valued at $42,694,080 over the last 90 days. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Evercore ISI lifted their price target on shares of Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 18th. UBS Group dropped their price objective on Apple from $236.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. TD Cowen decreased their target price on Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Scotiabank lowered Apple to a “market perform” rating in a research report on Friday, May 2nd. Finally, Loop Capital cut their price objective on Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $235.80.

Apple Trading Down 0.1%

NASDAQ AAPL opened at $211.26 on Friday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a 50 day moving average of $206.09 and a 200-day moving average of $226.68. The company has a market cap of $3.16 trillion, a PE ratio of 33.53, a PEG ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.53 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is a boost from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio (DPR) is presently 16.20%.

Apple Company 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.