Apple Inc. (NASDAQ:AAPL) is First PREMIER Bank’s 2nd Largest Position

First PREMIER Bank boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,467 shares of the iPhone maker’s stock after acquiring an additional 1,551 shares during the quarter. Apple comprises 5.4% of First PREMIER Bank’s holdings, making the stock its 2nd largest holding. First PREMIER Bank’s holdings in Apple were worth $21,778,000 as of its most recent SEC filing.

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

Apple Stock Performance

NASDAQ AAPL opened at $235.06 on Wednesday. The company’s fifty day moving average is $228.43 and its two-hundred day moving average is $219.01. The firm has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 38.66, a P/E/G ratio of 2.25 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share 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 business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.46 earnings per share. Equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have weighed in on AAPL. Morgan Stanley restated an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Monday. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and raised their target price for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Bank of America reiterated a “buy” rating and issued a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. Rosenblatt Securities lifted their price target on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Evercore ISI reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.25.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

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.