Members Trust Co Cuts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Members Trust Co reduced its position in Apple Inc. (NASDAQ:AAPL) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,458 shares of the iPhone maker’s stock after selling 3,327 shares during the period. Apple comprises approximately 0.0% of Members Trust Co’s holdings, making the stock its 17th largest position. Members Trust Co’s holdings in Apple were worth $24,339,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AAPL. Hershey Financial Advisers LLC purchased a new position in shares of Apple during the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc boosted its holdings in Apple by 88.9% in 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 last quarter. 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 worth $175,000 after purchasing an additional 57 shares during the period. Sage Financial Group Inc. purchased a new stake in Apple during the 2nd quarter valued at $206,000. Finally, Benchmark Wealth Management LLC bought a new position in shares of Apple during the 2nd quarter valued at $208,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 0.0 %

AAPL opened at $243.04 on Friday. The company has a market capitalization of $3.67 trillion, a PE ratio of 39.97, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23. The firm has a 50-day simple moving average of $230.23 and a two-hundred day simple moving average of $221.05. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $244.54.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 earnings per share. Analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America lifted their price objective on Apple to $256.00 and gave the stock a “buy” rating in a report on Wednesday. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research note on Friday, October 25th. New Street Research reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Finally, Loop Capital reduced their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. 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 given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $235.68.

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.