United Bank Sells 272 Shares of Apple Inc. (NASDAQ:AAPL)

United Bank lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,038 shares of the iPhone maker’s stock after selling 272 shares during the quarter. Apple comprises 4.6% of United Bank’s holdings, making the stock its 3rd biggest position. United Bank’s holdings in Apple were worth $9,275,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AAPL. Christopher J. Hasenberg Inc bought a new position in Apple during the 1st quarter worth $35,000. Fidelis Capital Partners LLC lifted its position in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Apple during the 4th quarter worth $39,000. University of Texas Texas AM Investment Managment Co. increased its position 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 purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. acquired a new position in Apple in the fourth quarter valued at about $85,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Down 0.8 %

NASDAQ AAPL opened at $226.47 on Tuesday. The firm has a market capitalization of $3.47 trillion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The business’s 50-day moving average price is $222.25 and its two-hundred day moving average price is $200.82. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23.

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

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is 15.55%.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on 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 owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AAPL. Citigroup reiterated a “buy” rating and set a $255.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Piper Sandler Companies reiterated a “neutral” rating and set a $225.00 price target (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Rosenblatt Securities restated a “buy” rating and set a $261.00 price objective on shares of Apple in a research report on Tuesday, September 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $250.00 price target on shares of Apple in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $239.17.

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.