Apple Inc. $AAPL is Glenview Trust co’s 2nd Largest Position

Glenview Trust co trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 1.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,057,456 shares of the iPhone maker’s stock after selling 14,212 shares during the period. Apple makes up about 4.6% of Glenview Trust co’s holdings, making the stock its 2nd largest holding. Glenview Trust co’s holdings in Apple were worth $234,893,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Burkett Financial Services LLC grew its position in Apple by 0.6% in the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after acquiring an additional 93 shares during the period. Avid Wealth Partners LLC grew its position in Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after acquiring an additional 930 shares during the period. OneAscent Wealth Management LLC lifted its stake in Apple by 4.6% during the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock worth $2,337,000 after purchasing an additional 409 shares in the last quarter. Bell & Brown Wealth Advisors LLC lifted its stake in Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after purchasing an additional 240 shares in the last quarter. Finally, TruWealth Advisors LLC lifted its stake in Apple by 2.8% during the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock worth $42,045,000 after purchasing an additional 5,120 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on AAPL shares. Loop Capital decreased their price target on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research note on Thursday, August 21st. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a research note on Thursday, September 4th. Citigroup restated a “buy” rating on shares of Apple in a research note on Wednesday. Evercore ISI upped their price target on Apple from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Bank of America upped their price target on Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $240.80.

Apple Stock Performance

Shares of AAPL stock opened at $234.07 on Friday. The stock’s 50-day moving average is $221.50 and its two-hundred day moving average is $212.20. The firm has a market cap of $3.47 trillion, a price-to-earnings ratio of 35.52, a PEG ratio of 2.39 and a beta of 1.11. 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 quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last released its quarterly earnings results 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 firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the company posted $1.40 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The shares were 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 in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Apple Company 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.