First American Trust FSB Sells 23,781 Shares of Apple Inc. $AAPL

First American Trust FSB trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 282,749 shares of the iPhone maker’s stock after selling 23,781 shares during the quarter. Apple comprises 4.6% of First American Trust FSB’s holdings, making the stock its 2nd biggest position. First American Trust FSB’s holdings in Apple were worth $58,012,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AAPL. First National Bank of Hutchinson increased its position in shares of Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after purchasing an additional 6,982 shares during the period. Eagle Capital Management LLC lifted its holdings in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after buying an additional 272 shares during the period. Brighton Jones LLC lifted its holdings in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after buying an additional 69,207 shares during the period. Revolve Wealth Partners LLC boosted its stake in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after buying an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE grew its holdings in Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after acquiring an additional 1,155 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

Shares of AAPL opened at $278.78 on Monday. The company has a 50-day moving average of $266.03 and a two-hundred day moving average of $234.48. The stock has a market cap of $4.12 trillion, a price-to-earnings ratio of 37.32, a PEG ratio of 2.61 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.89 and a quick ratio of 0.86. Apple Inc. has a one year low of $169.21 and a one year high of $288.62.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The business had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. During the same quarter in the previous year, the business earned $1.64 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts expect 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 was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were issued a $0.26 dividend. The ex-dividend date was 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 is presently 13.92%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AAPL. Bank of America boosted their price target on shares of Apple from $270.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Tigress Financial lifted their price objective on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 17th. Sanford C. Bernstein set a $325.00 target price on shares of Apple in a research note on Monday, November 3rd. Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Wall Street Zen lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $280.09.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 228,052 shares of company stock valued at $58,604,588 over the last quarter. 0.06% of the stock is owned by insiders.

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.