First Citizens Financial Corp Has $4.43 Million Stake in Apple Inc. $AAPL

First Citizens Financial Corp reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 10.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,579 shares of the iPhone maker’s stock after selling 2,403 shares during the quarter. Apple accounts for approximately 2.4% of First Citizens Financial Corp’s portfolio, making the stock its 10th largest holding. First Citizens Financial Corp’s holdings in Apple were worth $4,427,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AAPL. Norges Bank purchased a new stake in Apple in the fourth quarter worth $46,868,648,000. Nuveen LLC purchased a new position in Apple in the first quarter valued at $17,472,482,000. GAMMA Investing LLC grew its stake in Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock valued at $133,425,490,000 after acquiring an additional 59,835,676 shares during the period. Vanguard Group Inc. raised its holdings in shares of Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock valued at $349,532,608,000 after acquiring an additional 49,168,843 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AAPL shares. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a research report on Thursday, September 4th. Jefferies Financial Group upped their price objective on Apple from $190.67 to $205.82 and gave the stock a “hold” rating in a report on Monday, September 8th. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Loop Capital dropped their target price on Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research note on Thursday, August 21st. Finally, DA Davidson reissued a “neutral” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $241.93.

Apple Price Performance

NASDAQ:AAPL opened at $237.88 on Friday. The firm has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 36.10, a P/E/G ratio of 2.48 and a beta of 1.11. The stock’s 50 day moving average price is $223.66 and its two-hundred day moving average price is $212.35. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. 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 posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for 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 company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.40 EPS. On average, analysts anticipate 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. Shareholders of record on Monday, August 11th were paid a $0.26 dividend. 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 payout ratio is 15.78%.

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.