Apple Inc. $AAPL is CNB Bank’s 3rd Largest Position

CNB Bank grew its position in Apple Inc. (NASDAQ:AAPL) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,971 shares of the iPhone maker’s stock after purchasing an additional 233 shares during the quarter. Apple comprises approximately 5.2% of CNB Bank’s investment portfolio, making the stock its 3rd biggest holding. CNB Bank’s holdings in Apple were worth $11,073,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ryan Investment Management Inc. acquired a new position in Apple during the 2nd quarter valued at about $31,000. ROSS JOHNSON & Associates LLC grew its stake in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the last quarter. Nexus Investment Management ULC increased its holdings in shares of Apple by 333.3% during the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after acquiring an additional 200 shares in the last quarter. Elite Financial Inc. purchased a new position in shares of Apple in the 1st quarter valued at approximately $58,000. Finally, LSV Asset Management acquired a new stake in Apple in the 4th quarter worth approximately $65,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, August 13th. UBS Group raised their target price on Apple from $220.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. The Goldman Sachs Group lifted their price target on Apple from $279.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Monness Crespi & Hardt increased their price objective on Apple from $270.00 to $300.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Phillip Securities cut Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective for the company. in a research note on Thursday, September 11th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $278.22.

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 4,199 shares of the 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 sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. This represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were 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. The trade was a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 228,052 shares of company stock worth $58,604,588. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $276.97 on Wednesday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $280.38. 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 stock has a market cap of $4.09 trillion, a PE ratio of 42.03, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. The business has a 50-day simple moving average of $261.05 and a 200-day simple moving average of $230.47.

Apple (NASDAQ:AAPL) last posted its earnings results 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 analyst estimates of $101.65 billion. During the same period last year, the company earned $1.64 earnings per share. Apple’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

Apple Company 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.