Apple Inc. (NASDAQ:AAPL) Holdings Lessened by City State Bank

City State Bank reduced its position in Apple Inc. (NASDAQ:AAPL) by 1.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 55,553 shares of the iPhone maker’s stock after selling 1,078 shares during the period. Apple accounts for about 4.7% of City State Bank’s holdings, making the stock its biggest holding. City State Bank’s holdings in Apple were worth $12,944,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Hershey Financial Advisers LLC purchased a new position in shares of Apple in the 2nd quarter valued at approximately $42,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the period. Hoese & Co LLP grew its position in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new position in Apple in the 2nd quarter valued at $206,000. Finally, Benchmark Wealth Management LLC purchased a new position in Apple during the 2nd quarter worth $208,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction 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 approximately $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. In the last ninety days, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

NASDAQ AAPL opened at $237.33 on Monday. The business’s 50-day simple moving average is $229.02 and its 200-day simple moving average is $220.02. The firm has a market capitalization of $3.59 trillion, a P/E ratio of 39.03, a P/E/G ratio of 2.33 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.81. 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 (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 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 business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AAPL shares. Tigress Financial increased their price target on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Maxim Group increased their target price on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Oppenheimer restated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Loop Capital dropped their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research note on Friday, October 25th. Two equities 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.68.

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.