Apple Inc. (NASDAQ:AAPL) is MidWestOne Financial Group Inc.’s 2nd Largest Position

MidWestOne Financial Group Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,141 shares of the iPhone maker’s stock after selling 1,771 shares during the quarter. Apple comprises approximately 5.3% of MidWestOne Financial Group Inc.’s investment portfolio, making the stock its 2nd biggest holding. MidWestOne Financial Group Inc.’s holdings in Apple were worth $29,516,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Apple by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after purchasing an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after buying an additional 3,245,281 shares during the period. Capital International Investors raised its position in Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares during the last quarter. American Century Companies Inc. lifted its stake in Apple by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after acquiring an additional 1,065,759 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Apple by 1.7% in the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after acquiring an additional 485,873 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. This represents a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 404,040 shares of company stock valued at $91,062,512. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on AAPL. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a report on Friday, October 25th. Robert W. Baird lifted their price target on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Thursday, September 26th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $273.00 target price on shares of Apple in a research note on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Apple Price Performance

NASDAQ:AAPL opened at $228.22 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The stock has a market cap of $3.45 trillion, a PE ratio of 37.54, a P/E/G ratio of 2.20 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a 50 day moving average price of $226.84 and a 200 day moving average price of $215.52.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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 net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio is currently 16.45%.

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.