Apple Inc. (NASDAQ:AAPL) Stock Position Lowered by Country Club Bank

Country Club Bank cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,857 shares of the iPhone maker’s stock after selling 1,789 shares during the quarter. Apple accounts for about 2.2% of Country Club Bank’s investment portfolio, making the stock its 6th largest holding. Country Club Bank’s holdings in Apple were worth $32,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its stake in shares of Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares during the period. William Blair Investment Management LLC bought a new position in Apple during the 2nd quarter valued at approximately $834,368,000. Ameriprise Financial Inc. lifted its holdings in Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after buying an additional 3,245,281 shares during the period. Finally, Tairen Capital Ltd purchased a new position in shares of Apple during the second quarter valued at approximately $588,952,000. 67.73% of the stock is currently owned by institutional investors.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 508,170 shares of company stock worth $117,004,745. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and raised their price target for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Barclays cut their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Citigroup upped their target price on Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Rosenblatt Securities raised their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $236.78.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $258.20 on Wednesday. The firm’s 50-day moving average price is $235.45 and its 200-day moving average price is $226.34. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $258.21. The company has a market cap of $3.90 trillion, a PE ratio of 42.47, a PEG ratio of 2.41 and a beta of 1.23. 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 (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.46 earnings per share. As a group, analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

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.