1ST Source Bank Has $35.53 Million Stock Holdings in Apple Inc. $AAPL

1ST Source Bank cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 159,964 shares of the iPhone maker’s stock after selling 2,549 shares during the quarter. Apple accounts for about 2.1% of 1ST Source Bank’s portfolio, making the stock its 8th biggest holding. 1ST Source Bank’s holdings in Apple were worth $35,533,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Tallon Kerry Patrick acquired a new stake in Apple in the 4th quarter valued at approximately $1,877,000. First National Bank of Hutchinson raised its position in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after buying an additional 6,982 shares during the last quarter. Eagle Capital Management LLC raised its position in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after buying an additional 272 shares during the last quarter. Brighton Jones LLC raised its position in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after buying an additional 69,207 shares during the last quarter. Finally, Revolve Wealth Partners LLC raised its position in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after buying an additional 2,695 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. Citigroup raised their price target on Apple from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, August 1st. The Goldman Sachs Group restated a “buy” rating and issued a $266.00 price target on shares of Apple in a research note on Tuesday, August 26th. Needham & Company LLC restated a “hold” rating on shares of Apple in a research note on Friday, July 25th. UBS Group raised their price target on Apple from $210.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $217.00 price target on shares of Apple in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $237.37.

Apple Stock Performance

AAPL opened at $232.14 on Tuesday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock has a market cap of $3.45 trillion, a price-to-earnings ratio of 35.23, a PEG ratio of 2.42 and a beta of 1.11. The business has a 50 day moving average of $216.40 and a 200-day moving average of $212.63. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm posted $1.40 earnings per share. On average, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

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.