FineMark National Bank & Trust Has $118.49 Million Holdings in Apple Inc. $AAPL

FineMark National Bank & Trust boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 577,529 shares of the iPhone maker’s stock after acquiring an additional 4,999 shares during the quarter. Apple comprises about 4.0% of FineMark National Bank & Trust’s investment portfolio, making the stock its 4th biggest holding. FineMark National Bank & Trust’s holdings in Apple were worth $118,492,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Ryan Investment Management Inc. acquired a new position in Apple in the second quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC lifted its holdings 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 valued at $42,000 after purchasing an additional 180 shares during the last quarter. Nexus Investment Management ULC boosted its position in shares of Apple by 333.3% in the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after purchasing an additional 200 shares during the period. LSV Asset Management purchased a new position in Apple in the 4th quarter worth about $65,000. Finally, Elite Financial Inc. acquired a new stake in Apple during the 1st quarter worth about $58,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup reiterated a “buy” rating and issued a $315.00 target price (up from $245.00) on shares of Apple in a report on Friday, October 31st. Bank of America upped their price target on shares of Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Apple in a research report on Monday, December 1st. Evercore ISI reissued an “outperform” rating and set a $325.00 target price (up from $300.00) on shares of Apple in a research note on Monday. Finally, Monness Crespi & Hardt increased their price target on shares of Apple from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $282.06.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction that occurred on 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 completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value 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. This trade represents a 3.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Shares of AAPL opened at $277.89 on Tuesday. The firm has a market cap of $4.11 trillion, a price-to-earnings ratio of 37.20, a price-to-earnings-growth ratio of 2.61 and a beta of 1.10. The company’s fifty day moving average is $266.50 and its 200-day moving average is $235.02. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $288.62.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same period in the prior year, the company posted $1.64 earnings per share. Apple’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

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.