Security National Bank of SO Dak Sells 5,358 Shares of Apple Inc. (NASDAQ:AAPL)

Security National Bank of SO Dak decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 11.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,889 shares of the iPhone maker’s stock after selling 5,358 shares during the quarter. Apple accounts for about 5.4% of Security National Bank of SO Dak’s holdings, making the stock its 2nd biggest holding. Security National Bank of SO Dak’s holdings in Apple were worth $9,033,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AAPL. Smith Thornton Advisors LLC acquired a new position in shares of Apple during the second quarter worth about $2,303,000. Savvy Advisors Inc. raised its holdings in Apple by 100.3% in the second quarter. Savvy Advisors Inc. now owns 28,562 shares of the iPhone maker’s stock valued at $6,016,000 after acquiring an additional 14,304 shares in the last quarter. Scientech Research LLC purchased a new position in Apple in the second quarter worth approximately $2,396,000. Lummis Asset Management LP grew its holdings in Apple by 0.9% during the 2nd quarter. Lummis Asset Management LP now owns 39,071 shares of the iPhone maker’s stock worth $8,229,000 after acquiring an additional 334 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Apple by 12.7% in the 2nd quarter. Mackenzie Financial Corp now owns 6,776,080 shares of the iPhone maker’s stock valued at $1,427,178,000 after purchasing an additional 763,586 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AAPL shares. Loop Capital cut their price target on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Rosenblatt Securities raised their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. New Street Research reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.51.

Apple Price Performance

Shares of AAPL opened at $225.12 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock’s 50 day moving average is $226.75 and its two-hundred day moving average is $215.45. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The firm has a market capitalization of $3.40 trillion, a PE ratio of 37.03, a P/E/G ratio of 2.20 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 earnings per share. Research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 404,040 shares of company stock worth $91,062,512 in the last three months. Corporate insiders own 0.06% of the company’s stock.

About Apple

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.