Apple Inc. (NASDAQ:AAPL) is Moody National Bank Trust Division’s 2nd Largest Position

Moody National Bank Trust Division lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 154,618 shares of the iPhone maker’s stock after selling 1,479 shares during the quarter. Apple makes up about 3.6% of Moody National Bank Trust Division’s portfolio, making the stock its 2nd biggest holding. Moody National Bank Trust Division’s holdings in Apple were worth $34,345,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC raised its position in shares of Apple by 0.9% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker’s stock valued at $28,012,000 after buying an additional 1,050 shares during the last quarter. RMR Wealth Builders raised its position in shares of Apple by 0.7% in the fourth quarter. RMR Wealth Builders now owns 119,262 shares of the iPhone maker’s stock valued at $29,866,000 after buying an additional 786 shares during the last quarter. Signal Advisors Wealth LLC raised its position in shares of Apple by 7.3% in the fourth quarter. Signal Advisors Wealth LLC now owns 40,991 shares of the iPhone maker’s stock valued at $10,265,000 after buying an additional 2,794 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of Apple by 0.5% in the fourth quarter. Rosenberg Matthew Hamilton now owns 11,330 shares of the iPhone maker’s stock valued at $2,837,000 after buying an additional 53 shares during the last quarter. Finally, Capital CS Group LLC raised its position in shares of Apple by 109.4% in the fourth quarter. Capital CS Group LLC now owns 3,797 shares of the iPhone maker’s stock valued at $951,000 after buying an additional 44,406 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Down 0.6%

AAPL opened at $200.30 on Wednesday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 31.20, a PEG ratio of 2.25 and a beta of 1.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The business has a fifty day moving average price of $202.29 and a 200 day moving average price of $220.98.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the previous year, the firm earned $1.53 earnings per share. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its board has authorized a share repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. This is an increase from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is currently 16.20%.

Insider Buying and Selling

In related news, 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 value 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 $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of Apple 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 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. Insiders sold 191,507 shares of company stock worth $42,694,080 over the last 90 days. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. UBS Group reiterated a “buy” rating on shares of Apple in a research report on Sunday, June 1st. Raymond James Financial reduced their target price on shares of Apple from $250.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Evercore ISI upped their price objective on shares of Apple to $250.00 and gave the company a “buy” rating in a report on Friday, June 6th. Monness Crespi & Hardt raised their price objective on shares of Apple to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Finally, Scotiabank downgraded shares of Apple to a “market perform” rating in a research note on Friday, May 2nd. Three 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $234.86.

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.