Field & Main Bank Sells 2,185 Shares of Apple Inc. (NASDAQ:AAPL)

Field & Main Bank trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 74,033 shares of the iPhone maker’s stock after selling 2,185 shares during the period. Apple accounts for 5.8% of Field & Main Bank’s portfolio, making the stock its 2nd biggest position. Field & Main Bank’s holdings in Apple were worth $16,445,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Life Planning Partners Inc purchased a new position in shares of Apple in the fourth quarter worth approximately $47,000. Conquis Financial LLC acquired a new stake in Apple in the fourth quarter valued at approximately $63,000. LSV Asset Management acquired a new stake in Apple in the fourth quarter valued at approximately $65,000. Pillar Financial Advisors LLC acquired a new stake in shares of Apple in the fourth quarter worth $82,000. Finally, Compass Planning Associates Inc acquired a new stake in shares of Apple in the fourth quarter worth $96,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction dated 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 sale, the insider owned 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AAPL shares. Scotiabank lowered shares of Apple to a “market perform” rating in a research report on Friday, May 2nd. Evercore ISI boosted their target price on shares of Apple to $250.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Wedbush restated an “outperform” rating and issued a $270.00 target price on shares of Apple in a research note on Wednesday, July 30th. Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating in a research report on Friday, July 18th. Finally, DA Davidson reiterated a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Friday, August 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $237.25.

Apple Stock Down 0.2%

Apple stock opened at $202.92 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm has a market cap of $3.01 trillion, a price-to-earnings ratio of 30.79, a PEG ratio of 2.14 and a beta of 1.16. The stock has a fifty day simple moving average of $205.58 and a two-hundred day simple moving average of $213.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%. The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. Apple’s revenue was up 9.6% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its board has initiated a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. Apple’s payout ratio is presently 15.78%.

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.