First Business Financial Services Inc. Sells 1,562 Shares of Apple Inc. $AAPL

First Business Financial Services Inc. reduced its position in Apple Inc. (NASDAQ:AAPL) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,631 shares of the iPhone maker’s stock after selling 1,562 shares during the period. Apple comprises approximately 1.1% of First Business Financial Services Inc.’s holdings, making the stock its 12th largest position. First Business Financial Services Inc.’s holdings in Apple were worth $12,234,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Blue Sky Capital Consultants Group Inc. raised its stake in shares of Apple by 3.7% in the second quarter. Blue Sky Capital Consultants Group Inc. now owns 34,040 shares of the iPhone maker’s stock worth $6,984,000 after purchasing an additional 1,227 shares during the last quarter. Jackson Hole Capital Partners LLC raised its position in Apple by 9.5% in the 2nd quarter. Jackson Hole Capital Partners LLC now owns 80,526 shares of the iPhone maker’s stock worth $16,522,000 after buying an additional 6,980 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its position in Apple by 10.6% in the 2nd quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,220 shares of the iPhone maker’s stock worth $3,943,000 after buying an additional 1,840 shares during the last quarter. Trademark Financial Management LLC lifted its stake in Apple by 43.2% during the 2nd quarter. Trademark Financial Management LLC now owns 2,601 shares of the iPhone maker’s stock valued at $534,000 after acquiring an additional 785 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Apple by 6,850,100.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 68,502 shares of the iPhone maker’s stock valued at $14,055,000 after acquiring an additional 68,501 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of Apple stock opened at $275.92 on Tuesday. The stock has a market cap of $4.08 trillion, a P/E ratio of 41.87, a P/E/G ratio of 2.62 and a beta of 1.09. 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’s fifty day moving average is $260.27 and its 200 day moving average is $229.92. Apple Inc. has a one year low of $169.21 and a one year high of $277.32.

Apple (NASDAQ:AAPL) last issued its quarterly 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. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same quarter in the prior year, the business posted $1.64 earnings per share. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

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

Insider Buying and Selling at Apple

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, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 228,052 shares of company stock valued at $58,604,588. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AAPL has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of Apple from $298.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Barclays boosted their target price on shares of Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. Seaport Res Ptn upgraded Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. Robert W. Baird set a $300.00 price objective on Apple in a report on Friday, October 31st. Finally, Cowen reissued a “buy” rating on shares of Apple in a report on Monday, October 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $278.22.

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.