Apple Inc. (NASDAQ:AAPL) is Stock Yards Bank & Trust Co.’s 2nd Largest Position

Stock Yards Bank & Trust Co. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 695,912 shares of the iPhone maker’s stock after selling 19,244 shares during the quarter. Apple accounts for about 4.9% of Stock Yards Bank & Trust Co.’s portfolio, making the stock its 2nd largest position. Stock Yards Bank & Trust Co.’s holdings in Apple were worth $146,573,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AAPL. Access Investment Management LLC purchased a new position in Apple during the 1st quarter valued at about $140,000. Hoese & Co LLP lifted its holdings in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares in the last quarter. Sage Financial Group Inc. purchased a new stake in shares of Apple during the second quarter valued at approximately $206,000. Benchmark Wealth Management LLC purchased a new position in Apple in the second quarter valued at about $208,000. Finally, Sequent Asset Management LLC bought a new stake in Apple in the second quarter valued at about $214,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 417,924 shares of company stock valued at $94,142,399 over the last 90 days. Insiders own 0.06% of the company’s stock.

Apple Stock Down 0.4 %

Shares of AAPL opened at $222.01 on Tuesday. The company has a market capitalization of $3.38 trillion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 2.41 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-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. The stock has a fifty day simple moving average of $227.07 and a two-hundred day simple moving average of $213.03.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 145.09% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the company posted $1.46 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts forecast that Apple Inc. will post 7.48 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Oppenheimer reiterated a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, October 1st. Rosenblatt Securities increased their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Maxim Group upped their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday. Finally, New Street Research reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

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.