NBT Bank N A NY Sells 23,276 Shares of Apple Inc. (NASDAQ:AAPL)

NBT Bank N A NY lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,783 shares of the iPhone maker’s stock after selling 23,276 shares during the period. Apple comprises about 5.1% of NBT Bank N A NY’s portfolio, making the stock its 2nd largest holding. NBT Bank N A NY’s holdings in Apple were worth $73,068,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. FMR LLC increased its position in shares of Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares during the period. Geode Capital Management LLC increased its stake in shares of Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after buying an additional 20,483,787 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Apple by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker’s stock valued at $24,566,054,000 after buying an additional 3,156,680 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Apple by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker’s stock valued at $21,335,435,000 after purchasing an additional 1,742,087 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on AAPL shares. Raymond James dropped their price target on Apple from $250.00 to $230.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Bank of America cut their price target on Apple from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Loop Capital reduced their price objective on Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. Finally, Wedbush reiterated an “outperform” rating and issued a $270.00 price target on shares of Apple in a report on Friday. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $235.80.

Apple Price Performance

AAPL opened at $211.26 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a fifty day simple moving average of $206.09 and a 200 day simple moving average of $226.67. The firm has a market cap of $3.16 trillion, a price-to-earnings ratio of 33.53, a PEG ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion for 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 quarterly revenue 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. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. 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. The ex-dividend date of this dividend was Monday, May 12th. Apple’s dividend payout ratio (DPR) is presently 16.20%.

Apple declared that its board has authorized a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider now directly owns 15,533 shares of the company’s stock, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by company insiders.

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.