Trust Co. of Toledo NA OH Decreases Stake in Apple Inc. (NASDAQ:AAPL)

Trust Co. of Toledo NA OH decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 220,445 shares of the iPhone maker’s stock after selling 1,388 shares during the period. Apple accounts for about 7.0% of Trust Co. of Toledo NA OH’s portfolio, making the stock its 2nd biggest holding. Trust Co. of Toledo NA OH’s holdings in Apple were worth $51,364,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AAPL. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Apple by 127.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after buying an additional 42,282 shares in the last quarter. Independent Family Office LLC lifted its stake in Apple by 3.9% in the 1st quarter. Independent Family Office LLC now owns 6,529 shares of the iPhone maker’s stock worth $1,120,000 after purchasing an additional 244 shares in the last quarter. M3 Advisory Group LLC boosted its holdings in shares of Apple by 15.3% during the 1st quarter. M3 Advisory Group LLC now owns 14,007 shares of the iPhone maker’s stock valued at $2,402,000 after purchasing an additional 1,860 shares during the last quarter. Caprock Group LLC grew its position in shares of Apple by 1.8% during the first quarter. Caprock Group LLC now owns 299,940 shares of the iPhone maker’s stock valued at $51,434,000 after purchasing an additional 5,431 shares in the last quarter. Finally, Forbes Financial Planning Inc. increased its holdings in shares of Apple by 4.0% in the first quarter. Forbes Financial Planning Inc. now owns 22,660 shares of the iPhone maker’s stock worth $3,886,000 after purchasing an additional 865 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Up 1.3 %

NASDAQ:AAPL opened at $228.02 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $3.45 trillion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. The company has a 50-day moving average of $227.18 and a 200 day moving average of $217.00. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49.

Apple (NASDAQ:AAPL) last released 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. 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 company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $1.46 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

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

Insider Activity at Apple

In other news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 35.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 404,040 shares of company stock valued at $91,062,512 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Oppenheimer reissued a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. UBS Group increased their target price on Apple to $236.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Raymond James boosted their price target on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Moffett Nathanson initiated coverage on shares of Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price objective for the company. Finally, New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

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.