Apple Inc. $AAPL Stock Position Increased by Farmers Trust Co.

Farmers Trust Co. boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 11.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 101,192 shares of the iPhone maker’s stock after buying an additional 10,291 shares during the quarter. Apple makes up 4.4% of Farmers Trust Co.’s holdings, making the stock its 3rd biggest position. Farmers Trust Co.’s holdings in Apple were worth $25,767,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Baker Boyer National Bank grew its holdings in Apple by 0.3% in the second quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock valued at $3,695,000 after purchasing an additional 47 shares during the period. Beddow Capital Management Inc. lifted its position in shares of Apple by 1.8% during the 2nd quarter. Beddow Capital Management Inc. now owns 2,597 shares of the iPhone maker’s stock valued at $533,000 after buying an additional 47 shares in the last quarter. Red Tortoise LLC lifted its position in shares of Apple by 0.9% during the 2nd quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock valued at $1,173,000 after buying an additional 49 shares in the last quarter. SigFig Wealth Management LLC grew its stake in Apple by 2.8% in the 2nd quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after acquiring an additional 50 shares during the period. Finally, Shariaportfolio Inc. increased its holdings in Apple by 1.3% in the 2nd quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock worth $820,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Apple from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Wells Fargo & Company set a $300.00 price target on shares of Apple and gave the company an “overweight” rating in a research note on Friday, October 31st. Cowen reiterated a “buy” rating on shares of Apple in a research note on Monday, October 27th. Barclays increased their target price on Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, October 31st. Finally, DZ Bank raised Apple from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $282.51.

Insider Activity

In other Apple news, insider Chris Kondo sold 3,752 shares of Apple stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the transaction, the insider directly owned 15,098 shares of the company’s stock, valued at $4,095,030.54. The trade was a 19.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction dated 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 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 sold 228,052 shares of company stock valued at $58,604,588 in the last quarter. Insiders own 0.06% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $274.61 on Wednesday. Apple Inc. has a one year low of $169.21 and a one year high of $288.62. The stock has a market cap of $4.06 trillion, a PE ratio of 36.76, a P/E/G ratio of 2.56 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89. The stock has a 50 day moving average price of $268.95 and a 200 day moving average price of $238.34.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a return on equity of 164.05% and a net margin of 26.92%.The company 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 business earned $1.64 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were issued a $0.26 dividend. The ex-dividend date of this dividend 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 currently 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.