Apple Inc. (NASDAQ:AAPL) Holdings Decreased by First PREMIER Bank

First PREMIER Bank cut its holdings in Apple Inc. (NASDAQ:AAPL) by 0.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,374 shares of the iPhone maker’s stock after selling 574 shares during the quarter. Apple makes up about 4.2% of First PREMIER Bank’s holdings, making the stock its 3rd biggest holding. First PREMIER Bank’s holdings in Apple were worth $15,840,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Conservest Capital Advisors Inc. raised its stake in Apple by 0.3% during the 3rd quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock worth $2,877,000 after acquiring an additional 55 shares during the period. Flagstone Financial Management raised its stake in Apple by 0.9% during the 4th quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after acquiring an additional 56 shares during the period. High Pines Wealth Management LLC raised its stake in Apple by 0.7% during the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after acquiring an additional 58 shares during the period. Asset Planning Corporation grew its holdings in Apple by 1.0% during the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after buying an additional 59 shares in the last quarter. Finally, Columbus Macro LLC grew its holdings in Apple by 0.5% during the 4th quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after buying an additional 59 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 346,270 shares of company stock worth $60,880,196. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. Canaccord Genuity Group increased their price objective on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Saturday, May 4th. Barclays reaffirmed an “underweight” rating and set a $164.00 price objective on shares of Apple in a report on Tuesday, June 11th. JPMorgan Chase & Co. increased their price objective on shares of Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Evercore ISI increased their price objective on shares of Apple from $220.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Sanford C. Bernstein increased their price objective on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, June 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Apple Price Performance

AAPL opened at $210.62 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $220.20. The firm has a market capitalization of $3.23 trillion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 2.59 and a beta of 1.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The business’s 50-day moving average is $192.13 and its two-hundred day moving average is $185.46.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 6.59 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a dividend of $0.25 per share. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. Apple’s payout ratio is presently 15.55%.

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.