NBT Bank N A NY Cuts Stock Position in Apple Inc. $AAPL

NBT Bank N A NY lowered its stake in Apple Inc. (NASDAQ:AAPL) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 285,813 shares of the iPhone maker’s stock after selling 6,680 shares during the period. Apple accounts for approximately 4.0% of NBT Bank N A NY’s holdings, making the stock its 2nd biggest holding. NBT Bank N A NY’s holdings in Apple were worth $58,641,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AAPL. Burkett Financial Services LLC increased its holdings in Apple by 0.6% in the 1st 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 in the last quarter. Avid Wealth Partners LLC grew its stake in shares of Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after acquiring an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC grew 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 valued at $13,772,000 after acquiring an additional 240 shares during the period. American National Bank & Trust lifted its holdings in Apple by 2.4% in the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after purchasing an additional 4,543 shares in the last quarter. Finally, Andina Capital Management LLC lifted its holdings in Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after purchasing an additional 4,591 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 price objective (up from $230.00) on shares of Apple in a report on Friday, August 1st. Wedbush restated an “outperform” rating on shares of Apple in a report on Tuesday, October 21st. Evercore ISI upped their price objective on Apple from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday. Citigroup reissued a “buy” rating and set a $315.00 price target (up previously from $245.00) on shares of Apple in a research report on Friday. Finally, Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and upped their price objective for the stock from $226.00 to $315.00 in a research note on Monday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $276.39.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction that occurred 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 owned 8,765 shares in the company, valued at approximately $2,168,373.35. This represents a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 259,121 shares of company stock valued at $65,358,981 over the last quarter. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $270.37 on Friday. The business’s 50-day moving average is $248.34 and its two-hundred day moving average is $222.01. The company has a market capitalization 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 Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $277.32. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 earnings per share. Research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is 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.