Apple Inc. (NASDAQ:AAPL) Shares Sold by First Interstate Bank

First Interstate Bank cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 89,629 shares of the iPhone maker’s stock after selling 2,842 shares during the period. Apple makes up approximately 1.3% of First Interstate Bank’s holdings, making the stock its 17th largest holding. First Interstate Bank’s holdings in Apple were worth $18,878,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bellwether Advisors LLC lifted its stake in shares of Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after acquiring an additional 19,352 shares in the last quarter. Gentry Private Wealth LLC purchased a new stake in Apple during the 2nd quarter worth approximately $876,000. WT Asset Management Ltd purchased a new stake in Apple during the 2nd quarter worth approximately $80,057,000. TD Asset Management Inc raised its position in shares of Apple by 10.3% in the 2nd quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock valued at $3,526,874,000 after purchasing an additional 1,557,848 shares in the last quarter. Finally, Councilmark Asset Management LLC purchased a new position in shares of Apple during the 1st quarter valued at approximately $11,776,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $231.41 on Monday. The stock has a market cap of $3.55 trillion, a P/E ratio of 35.99, a P/E/G ratio of 2.40 and a beta of 1.24. The firm’s 50-day simple moving average is $226.86 and its 200 day simple moving average is $210.64. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 EPS. Equities analysts expect that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is 15.55%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AAPL. Wedbush restated an “outperform” rating and issued a $285.00 price target on shares of Apple in a research note on Monday, September 9th. The Goldman Sachs Group boosted their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Melius Research restated a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research note on Friday. Finally, Piper Sandler restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $235.91.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is owned by corporate insiders.

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.