Apple Inc. $AAPL Shares Bought by Bank & Trust Co

Bank & Trust Co grew its stake in Apple Inc. (NASDAQ:AAPL) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,604 shares of the iPhone maker’s stock after acquiring an additional 105 shares during the period. Apple accounts for about 2.0% of Bank & Trust Co’s investment portfolio, making the stock its 9th biggest position. Bank & Trust Co’s holdings in Apple were worth $2,586,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Kingstone Capital Partners Texas LLC grew its stake in shares of Apple by 573,627.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares during the period. Norges Bank bought a new position in Apple during the fourth quarter worth about $46,868,648,000. Nuveen LLC acquired a new position in shares of Apple during the 1st quarter worth about $17,472,482,000. GAMMA Investing LLC grew its position in shares of Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after buying an additional 59,835,676 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction dated 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 sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent analyst reports. Monness Crespi & Hardt upped their target price on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. UBS Group restated a “neutral” rating on shares of Apple in a research report on Monday, September 8th. Bank of America raised their price objective on Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Tigress Financial boosted their target price on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. Finally, Wedbush set a $310.00 price target on Apple and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $245.51.

Apple Price Performance

NASDAQ AAPL opened at $255.45 on Thursday. 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 Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a market capitalization of $3.79 trillion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The firm’s 50 day moving average is $231.34 and its 200-day moving average is $214.08.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter last year, the firm earned $1.40 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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