Apple Inc. (NASDAQ:AAPL) Shares Sold by OLD Second National Bank of Aurora

OLD Second National Bank of Aurora lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,631 shares of the iPhone maker’s stock after selling 1,308 shares during the quarter. Apple comprises about 3.0% of OLD Second National Bank of Aurora’s holdings, making the stock its 6th largest position. OLD Second National Bank of Aurora’s holdings in Apple were worth $12,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Life Planning Partners Inc acquired a new stake in Apple during the 4th quarter worth approximately $47,000. Conquis Financial LLC acquired a new stake in Apple during the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new stake in Apple during the 4th quarter worth approximately $65,000. Pillar Financial Advisors LLC acquired a new stake in Apple during the 4th quarter worth approximately $82,000. Finally, Compass Planning Associates Inc acquired a new stake in Apple during the 4th quarter worth approximately $96,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Up 0.1%

NASDAQ:AAPL opened at $213.88 on Monday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a market capitalization of $3.19 trillion, a P/E ratio of 33.31, a P/E/G ratio of 2.39 and a beta of 1.20. 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 50 day simple moving average of $204.77 and a 200 day simple moving average of $214.38.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has initiated a share buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given 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 positive change from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is currently 16.20%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction 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 owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Bank of America reissued a “buy” rating and set a $235.00 target price on shares of Apple in a research report on Tuesday, June 10th. Monness Crespi & Hardt increased their target price on Apple to $245.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. TD Cowen lowered 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. Raymond James Financial lowered their target price on Apple from $250.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $234.94.

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.