Apple Inc. $AAPL is Citizens National Bank Trust Department’s Largest Position

Citizens National Bank Trust Department reduced its position in Apple Inc. (NASDAQ:AAPL) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,793 shares of the iPhone maker’s stock after selling 678 shares during the quarter. Apple makes up about 5.0% of Citizens National Bank Trust Department’s holdings, making the stock its largest position. Citizens National Bank Trust Department’s holdings in Apple were worth $25,193,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. purchased a new position in Apple in the 2nd quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Elite Financial Inc. purchased a new position in Apple during the 1st quarter valued at about $58,000. LSV Asset Management purchased a new position in Apple during the 4th quarter valued at about $65,000. Finally, HFM Investment Advisors LLC purchased a new position in Apple during the 1st quarter valued at about $99,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AAPL shares. CLSA raised Apple to a “strong-buy” rating in a report on Sunday, October 5th. Citigroup reaffirmed a “buy” rating and set a $315.00 target price (up previously from $245.00) on shares of Apple in a report on Friday. The Goldman Sachs Group lifted their target price on Apple from $279.00 to $320.00 and gave the company a “buy” rating in a report on Friday. Monness Crespi & Hardt lifted their price target on Apple from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Apple from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $276.39.

Insider Activity

In related news, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. This represents a 32.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. The trade was a 23.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 259,121 shares of company stock valued at $65,358,981. 0.06% of the stock is owned by corporate insiders.

Apple Stock Down 0.4%

AAPL opened at $270.37 on Friday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $277.32. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The business’s 50-day moving average price is $248.34 and its 200-day moving average price is $222.01. The company has a market cap of $4.01 trillion, a P/E ratio of 41.03, a P/E/G ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. During the same quarter in the previous year, the company posted $1.64 EPS. Apple’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Monday, November 10th will be given a $0.26 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.04 annualized dividend and a yield of 0.4%. 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.