Cape ANN Savings Bank Has $8.59 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Cape ANN Savings Bank lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 36,855 shares of the iPhone maker’s stock after selling 861 shares during the period. Apple comprises about 5.0% of Cape ANN Savings Bank’s investment portfolio, making the stock its 5th biggest position. Cape ANN Savings Bank’s holdings in Apple were worth $8,587,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC bought a new stake in Apple during the 2nd quarter valued at $42,000. Hoese & Co LLP raised its stake in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new stake in shares of Apple during the second quarter worth about $206,000. Benchmark Wealth Management LLC bought a new stake in shares of Apple in the second quarter worth about $208,000. Finally, SMH Capital Advisors Inc. purchased a new position in Apple during the 2nd quarter valued at about $209,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 35.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

AAPL opened at $232.87 on Tuesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The company has a market cap of $3.52 trillion, a price-to-earnings ratio of 38.30, a PEG ratio of 2.25 and a beta of 1.24. 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 company’s 50 day moving average is $228.06 and its 200 day moving average is $218.64.

Apple (NASDAQ:AAPL) last issued 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 the consensus estimate of $94.52 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. Apple’s payout ratio is currently 16.45%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Evercore ISI reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. New Street Research reissued a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Barclays dropped their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Melius Research reiterated a “buy” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Two research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.25.

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.