FARMERS & MERCHANTS TRUST Co OF LONG BEACH Sells 14,585 Shares of Apple Inc. (NASDAQ:AAPL)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH decreased its position in Apple Inc. (NASDAQ:AAPL) by 10.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 130,454 shares of the iPhone maker’s stock after selling 14,585 shares during the period. Apple comprises approximately 7.1% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings, making the stock its 3rd largest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Apple were worth $27,476,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Pacifica Partners Inc. grew its stake in shares of Apple by 8.4% in the 1st quarter. Pacifica Partners Inc. now owns 62,999 shares of the iPhone maker’s stock valued at $10,755,000 after purchasing an additional 4,894 shares during the period. Perkins Coie Trust Co grew its position in Apple by 0.7% in the first quarter. Perkins Coie Trust Co now owns 100,853 shares of the iPhone maker’s stock valued at $17,294,000 after acquiring an additional 741 shares during the period. Doliver Advisors LP raised its stake in Apple by 5.0% during the first quarter. Doliver Advisors LP now owns 25,688 shares of the iPhone maker’s stock worth $4,405,000 after acquiring an additional 1,222 shares in the last quarter. Whitaker Myers Wealth Managers LTD. lifted its holdings in shares of Apple by 20.5% during the first quarter. Whitaker Myers Wealth Managers LTD. now owns 14,097 shares of the iPhone maker’s stock valued at $2,417,000 after acquiring an additional 2,399 shares during the period. Finally, Capital Planning LLC boosted its stake in shares of Apple by 9.0% in the 1st quarter. Capital Planning LLC now owns 23,866 shares of the iPhone maker’s stock valued at $4,092,000 after purchasing an additional 1,966 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Stock Up 0.4 %

Shares of Apple stock opened at $231.41 on Monday. The company has a market capitalization of $3.55 trillion, a P/E ratio of 35.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The business has a 50-day moving average of $226.86 and a two-hundred day moving average of $210.64. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm 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%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted $1.26 EPS. As a group, equities analysts predict that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AAPL. Wedbush reissued an “outperform” rating and set a $285.00 price target on shares of Apple in a report on Monday, September 9th. The Goldman Sachs Group boosted their target price on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Loop Capital raised their price target on Apple to $300.00 and gave the company a “buy” rating in a report on Monday, October 21st. Piper Sandler restated a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. Two research 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.91.

Insider Activity

In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on 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 sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of the firm’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 completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction on Friday, October 4th. The stock was 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock worth $114,786,399 over the last three months. Corporate insiders own 0.06% of the company’s stock.

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.