Apple Inc. (NASDAQ:AAPL) Stock Position Lessened by Security National Bank

Security National Bank lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122,327 shares of the iPhone maker’s stock after selling 1,921 shares during the quarter. Apple comprises about 3.2% of Security National Bank’s investment portfolio, making the stock its 6th biggest holding. Security National Bank’s holdings in Apple were worth $20,977,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Wyrmwood Management LLC boosted its holdings in shares of Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares during the last quarter. Gilfoyle & Co LLC boosted its holdings in shares of Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after buying an additional 118 shares during the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple in the fourth quarter worth approximately $39,000. University of Texas Texas AM Investment Managment Co. boosted its holdings in shares of Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. bought a new stake in Apple during the 4th quarter worth approximately $85,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity at Apple

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the transaction, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. Insiders sold 192,355 shares of company stock worth $34,771,329 over the last three months. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 2.9 %

Shares of AAPL opened at $216.75 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The firm has a fifty day moving average price of $192.13 and a 200-day moving average price of $185.31. The firm has a market capitalization of $3.32 trillion, a P/E ratio of 33.71, a P/E/G ratio of 2.56 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $220.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. Equities research analysts expect that Apple Inc. will post 6.59 earnings per share for the current year.

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

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a $0.25 dividend. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s payout ratio is presently 15.55%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $216.00 target price on shares of Apple in a research note on Tuesday, June 11th. Oppenheimer raised their target price on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday. DZ Bank restated a “hold” rating and set a $180.00 target price on shares of Apple in a research note on Thursday, March 28th. Rosenblatt Securities upgraded shares of Apple from a “neutral” rating to a “buy” rating and raised their target price for the stock from $196.00 to $260.00 in a research note on Wednesday, June 26th. Finally, Tigress Financial raised their target price on shares of Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $215.71.

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.