Idaho Trust Bank Has $575,000 Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Idaho Trust Bank cut its stake in Apple Inc. (NASDAQ:AAPL) by 92.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,732 shares of the iPhone maker’s stock after selling 32,989 shares during the quarter. Idaho Trust Bank’s holdings in Apple were worth $575,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AAPL. Swedbank AB bought a new stake in Apple during the 1st quarter worth approximately $3,026,492,000. Strategic Financial Concepts LLC raised its holdings in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after acquiring an additional 7,558,826 shares during the period. Canada Pension Plan Investment Board lifted its position in Apple by 158.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after acquiring an additional 7,067,379 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after buying an additional 5,405,542 shares during the period. Finally, Natixis lifted its position in shares of Apple by 127.7% in the first quarter. Natixis now owns 4,632,987 shares of the iPhone maker’s stock worth $794,465,000 after purchasing an additional 2,598,742 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AAPL. Tigress Financial boosted their price target on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Oppenheimer reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Robert W. Baird lifted their target price on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Barclays reissued an “underweight” rating and issued a $186.00 price target on shares of Apple in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $235.91.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on 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 transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s 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 sale, the senior vice president now owns 191,543 shares in the company, 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 SEC, which is accessible through this link. Also, insider Chris Kondo sold 5,178 shares of the 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 sale, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. 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 worth $114,786,399. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $233.67 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $3.58 trillion, a PE ratio of 36.34, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The stock’s 50-day simple moving average is $227.15 and its 200 day simple moving average is $211.46.

Apple (NASDAQ:AAPL) last posted its earnings results 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. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. On average, analysts anticipate that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders 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 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.