Family Capital Trust Co Has $9.58 Million Position in Apple Inc. $AAPL

Family Capital Trust Co reduced its position in Apple Inc. (NASDAQ:AAPL) by 5.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,702 shares of the iPhone maker’s stock after selling 2,517 shares during the period. Apple comprises approximately 3.3% of Family Capital Trust Co’s holdings, making the stock its 10th largest position. Family Capital Trust Co’s holdings in Apple were worth $9,582,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Ryan Investment Management Inc. bought a new stake in Apple in the 2nd quarter worth about $31,000. ROSS JOHNSON & Associates LLC boosted its holdings in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares during the last quarter. Nexus Investment Management ULC grew its stake in shares of Apple by 333.3% in the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after acquiring an additional 200 shares during the period. LSV Asset Management purchased a new position in shares of Apple during the fourth quarter valued at approximately $65,000. Finally, Elite Financial Inc. bought a new position in Apple during the first quarter valued at approximately $58,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 3,752 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the transaction, the insider directly owned 15,098 shares of the company’s stock, valued at $4,095,030.54. This represents a 19.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 228,052 shares of company stock valued at $58,604,588. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on AAPL shares. Citigroup reaffirmed a “buy” rating and issued a $315.00 target price (up previously from $245.00) on shares of Apple in a research report on Friday, October 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Apple in a research note on Thursday, November 13th. Robert W. Baird set a $300.00 price objective on Apple in a report on Friday, October 31st. Melius upped their price objective on Apple from $290.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Loop Capital raised Apple from a “hold” rating to a “buy” rating and raised their target price for the stock from $226.00 to $315.00 in a research report on Monday, October 20th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $278.22.

Apple Stock Performance

NASDAQ:AAPL opened at $267.44 on Wednesday. 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 50-day simple moving average of $257.18 and a two-hundred day simple moving average of $227.87. The firm has a market capitalization of $3.95 trillion, a PE ratio of 40.58, a P/E/G ratio of 2.62 and a beta of 1.09. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $277.32.

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

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s payout ratio is currently 13.92%.

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.