Sanibel Captiva Trust Company Inc. Trims Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Sanibel Captiva Trust Company Inc. trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 3.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 690,458 shares of the iPhone maker’s stock after selling 21,822 shares during the quarter. Apple accounts for about 5.0% of Sanibel Captiva Trust Company Inc.’s holdings, making the stock its 2nd biggest holding. Sanibel Captiva Trust Company Inc.’s holdings in Apple were worth $145,424,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Christopher J. Hasenberg Inc purchased a new position in Apple in the 1st quarter worth approximately $35,000. Fidelis Capital Partners LLC grew its holdings in shares of Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple in the fourth quarter worth $39,000. University of Texas Texas AM Investment Managment Co. raised its holdings in Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. purchased a new stake in Apple during the 4th quarter valued at $85,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AAPL shares. The Goldman Sachs Group boosted their price objective on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Tuesday, September 10th. Barclays dropped their price objective on Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Sanford C. Bernstein lifted their price objective on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Finally, TD Cowen upped their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have given 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $239.17.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock valued at $23,723,887 over the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Stock Down 0.3 %

Shares of Apple stock opened at $228.20 on Friday. The company has a 50-day simple moving average of $222.41 and a two-hundred day simple moving average of $200.19. The stock has a market capitalization of $3.50 trillion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 EPS. On average, analysts anticipate that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

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.