Apple Inc. (NASDAQ:AAPL) Shares Bought by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in Apple Inc. (NASDAQ:AAPL) by 0.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,550 shares of the iPhone maker’s stock after acquiring an additional 96 shares during the period. Apple accounts for approximately 7.5% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s portfolio, making the stock its 2nd largest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Apple were worth $30,418,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wynn Capital LLC boosted its holdings in Apple by 1.0% in the 3rd quarter. Wynn Capital LLC now owns 31,366 shares of the iPhone maker’s stock valued at $7,308,000 after purchasing an additional 320 shares in the last quarter. Family Wealth Partners LLC boosted its holdings in Apple by 5.2% in the 3rd quarter. Family Wealth Partners LLC now owns 3,257 shares of the iPhone maker’s stock valued at $759,000 after purchasing an additional 160 shares in the last quarter. Mendota Financial Group LLC boosted its holdings in Apple by 3.8% in the 3rd quarter. Mendota Financial Group LLC now owns 2,311 shares of the iPhone maker’s stock valued at $538,000 after purchasing an additional 85 shares in the last quarter. Fiduciary Financial Group LLC boosted its holdings in Apple by 3.0% in the 3rd quarter. Fiduciary Financial Group LLC now owns 174,987 shares of the iPhone maker’s stock valued at $39,507,000 after purchasing an additional 5,134 shares in the last quarter. Finally, MADDEN SECURITIES Corp boosted its holdings in Apple by 1.7% in the 3rd quarter. MADDEN SECURITIES Corp now owns 32,033 shares of the iPhone maker’s stock valued at $7,464,000 after purchasing an additional 546 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $237.33 on Friday. The firm has a market cap of $3.59 trillion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 2.30 and a beta of 1.24. The firm’s 50-day simple moving average is $229.02 and its 200-day simple moving average is $219.81. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.81.

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

Apple Dividend Announcement

The firm 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. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio (DPR) is 16.45%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AAPL. Piper Sandler reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price target on shares of Apple in a report on Monday, November 25th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and boosted their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Finally, Bank of America reiterated a “buy” rating and issued a $256.00 price target on shares of Apple in a report on Thursday, October 3rd. Two equities research 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.68.

Insider Buying and Selling

In other news, CFO Luca Maestri sold 59,305 shares of the 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 completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 35.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 over the last quarter. 0.06% of the stock is owned by company insiders.

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.