Apple Inc. $AAPL Shares Sold by First National Trust Co

First National Trust Co trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 579,651 shares of the iPhone maker’s stock after selling 15,972 shares during the period. Apple makes up approximately 5.2% of First National Trust Co’s investment portfolio, making the stock its largest holding. First National Trust Co’s holdings in Apple were worth $128,758,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tallon Kerry Patrick purchased a new position in Apple in the 4th quarter worth about $1,877,000. First National Bank of Hutchinson boosted its position in Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after purchasing an additional 6,982 shares during the period. Eagle Capital Management LLC lifted its holdings in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after buying an additional 272 shares during the last quarter. Brighton Jones LLC lifted its holdings in shares of Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after buying an additional 69,207 shares during the last quarter. Finally, Revolve Wealth Partners LLC lifted its position in Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on AAPL shares. Citigroup increased their price objective on Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Wedbush restated an “outperform” rating and set a $270.00 target price on shares of Apple in a research report on Wednesday. Bank of America lifted their price objective on Apple from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a research note on Thursday. Finally, DA Davidson reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $239.05.

Insiders Place Their Bets

In other Apple 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 value of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

Apple Stock Up 0.5%

Shares of NASDAQ AAPL opened at $239.78 on Friday. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $3.56 trillion, a PE ratio of 36.39, a price-to-earnings-growth ratio of 2.49 and a beta of 1.11. The company has a 50 day simple moving average of $218.50 and a 200 day simple moving average of $212.89.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $88.64 billion. During the same period last year, the company earned $1.40 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s payout ratio is presently 15.78%.

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.