First National Bank & Trust Co. of Newtown Trims Position in Apple Inc. $AAPL

First National Bank & Trust Co. of Newtown trimmed its position in Apple Inc. (NASDAQ:AAPL) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,202 shares of the iPhone maker’s stock after selling 1,971 shares during the quarter. Apple comprises about 5.7% of First National Bank & Trust Co. of Newtown’s investment portfolio, making the stock its 3rd biggest position. First National Bank & Trust Co. of Newtown’s holdings in Apple were worth $28,560,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC grew its position in Apple by 573,627.2% in 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 acquiring an additional 205,656,808 shares in the last quarter. Nuveen LLC purchased a new position in Apple in the first quarter worth about $17,472,482,000. GAMMA Investing LLC grew its position in Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after acquiring an additional 59,835,676 shares in the last quarter. Northern Trust Corp grew its position in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. Finally, Amundi grew its position in Apple by 27.4% in the first quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after acquiring an additional 14,651,321 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $258.45 on Thursday. The company has a market capitalization of $3.84 trillion, a price-to-earnings ratio of 39.22, a price-to-earnings-growth ratio of 2.56 and a beta of 1.09. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $265.29. 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 firm has a 50 day moving average of $242.99 and a 200 day moving average of $218.02.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.40 earnings per share. On average, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm 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. 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 dividend payout ratio is presently 15.78%.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total value of $1,038,790.61. Following the transaction, the chief financial officer directly owned 8,765 shares in the company, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 259,121 shares of company stock valued at $65,358,981. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on AAPL shares. Barclays lifted their price target on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. Evercore ISI reaffirmed an “outperform” rating on shares of Apple in a research note on Monday. Rosenblatt Securities upped their target price on Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Melius Research set a $290.00 target price on Apple and gave the company a “buy” rating in a research note on Wednesday, September 10th. Finally, JPMorgan Chase & Co. upped their target price on Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $252.47.

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.