Apple Inc. (NASDAQ:AAPL) Shares Sold by Indiana Trust & Investment Management Co

Indiana Trust & Investment Management Co lessened its position in Apple Inc. (NASDAQ:AAPL) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,176 shares of the iPhone maker’s stock after selling 1,163 shares during the period. Apple comprises 5.1% of Indiana Trust & Investment Management Co’s portfolio, making the stock its 3rd largest holding. Indiana Trust & Investment Management Co’s holdings in Apple were worth $14,953,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its stake in shares of Apple by 127.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after purchasing an additional 42,282 shares during the period. Interchange Capital Partners LLC increased its holdings in shares of Apple by 6.7% during the 1st quarter. Interchange Capital Partners LLC now owns 17,411 shares of the iPhone maker’s stock worth $2,876,000 after buying an additional 1,086 shares during the last quarter. Angeles Wealth Management LLC increased its holdings in shares of Apple by 8.7% during the 1st quarter. Angeles Wealth Management LLC now owns 107,010 shares of the iPhone maker’s stock worth $18,350,000 after buying an additional 8,602 shares during the last quarter. Foundry Partners LLC increased its holdings in shares of Apple by 30.9% during the 1st quarter. Foundry Partners LLC now owns 4,195 shares of the iPhone maker’s stock worth $719,000 after buying an additional 990 shares during the last quarter. Finally, Souders Financial Advisors increased its holdings in shares of Apple by 5.6% during the 1st quarter. Souders Financial Advisors now owns 74,720 shares of the iPhone maker’s stock worth $12,813,000 after buying an additional 3,966 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AAPL shares. Tigress Financial upped their price objective on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. UBS Group restated a “neutral” rating and set a $236.00 price objective on shares of Apple in a report on Monday, December 2nd. Piper Sandler restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Oppenheimer restated a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Finally, Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and increased their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.68.

Apple Stock Performance

Shares of AAPL stock opened at $242.84 on Friday. 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 one year low of $164.07 and a one year high of $244.63. The company’s 50-day simple moving average is $230.53 and its 200-day simple moving average is $221.62. The stock has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 39.94, a PEG ratio of 2.38 and a beta of 1.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $94.52 billion. During the same quarter last year, the company posted $1.46 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was 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 in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 over the last quarter. Insiders own 0.06% of the company’s stock.

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.