Central Bank & Trust Co. Sells 473 Shares of Apple Inc. $AAPL

Central Bank & Trust Co. lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 93,044 shares of the iPhone maker’s stock after selling 473 shares during the quarter. Apple makes up approximately 3.1% of Central Bank & Trust Co.’s holdings, making the stock its 3rd biggest holding. Central Bank & Trust Co.’s holdings in Apple were worth $19,090,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Burkett Financial Services LLC grew its stake in shares of Apple by 0.6% during the 1st 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 in the last quarter. Avid Wealth Partners LLC lifted its stake in Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after purchasing an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC boosted its stake in shares of Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after acquiring an additional 240 shares during the period. OneAscent Wealth Management LLC boosted its position 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 during the period. Finally, Andina Capital Management LLC grew its stake in Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after buying an additional 4,591 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. BMO Capital Markets reissued a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Sanford C. Bernstein initiated coverage on Apple in a research note on Monday, September 15th. They issued an “outperform” rating and a $290.00 price target for the company. HSBC set a $220.00 price target on Apple and gave the company a “hold” rating in a research note on Monday, September 8th. Bank of America lifted their target price on Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Finally, Raymond James Financial reissued an “outperform” rating and set a $240.00 price objective (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $244.03.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by company insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $256.08 on Tuesday. The firm’s 50 day moving average price is $225.30 and its 200-day moving average price is $212.22. Apple Inc. has a twelve month low of $169.21 and a twelve 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. The stock has a market capitalization of $3.80 trillion, a PE ratio of 38.86, a price-to-earnings-growth ratio of 2.55 and a beta of 1.11.

Apple (NASDAQ:AAPL) last posted 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. The firm had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.During the same quarter last year, the company earned $1.40 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid 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 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.