Apple Inc. $AAPL Stock Position Lowered by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,606 shares of the iPhone maker’s stock after selling 318 shares during the period. Apple makes up approximately 3.0% of New Covenant Trust Company N.A.’s holdings, making the stock its 8th largest holding. New Covenant Trust Company N.A.’s holdings in Apple were worth $3,339,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Burkett Financial Services LLC increased its holdings in shares of 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 buying an additional 93 shares during the period. Avid Wealth Partners LLC increased its holdings in shares of 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 buying an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC increased its holdings in shares of Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after buying an additional 240 shares during the period. American National Bank & Trust increased its holdings in shares of Apple by 2.4% in the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after buying an additional 4,543 shares during the period. Finally, Andina Capital Management LLC increased its holdings in shares of Apple by 209.2% in the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after buying an additional 4,591 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In other news, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,922 shares of company stock worth $64,320,190 in the last three months. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Tigress Financial boosted their price target on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. The Goldman Sachs Group restated a “buy” rating and set a $266.00 price target on shares of Apple in a report on Tuesday, August 26th. DA Davidson restated a “neutral” rating and set a $250.00 price target on shares of Apple in a report on Thursday, September 11th. Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and reduced their price target for the company from $205.82 to $205.16 in a report on Friday, October 3rd. Finally, Wedbush set a $310.00 price target on Apple and gave the company an “outperform” rating in a report on Monday, September 22nd. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $248.29.

Apple Stock Performance

Apple stock opened at $247.45 on Friday. The stock’s 50 day simple moving average is $240.67 and its two-hundred day simple moving average is $216.66. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market cap of $3.67 trillion, a price-to-earnings ratio of 37.55, a PEG ratio of 2.43 and a beta of 1.09. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

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, beating the consensus estimate of $1.43 by $0.14. The business 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 business’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.40 EPS. As a group, analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 annualized dividend 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%.

Apple 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.