Apple Inc. (NASDAQ:AAPL) is First American Bank’s Largest Position

First American Bank grew its holdings in Apple Inc. (NASDAQ:AAPL) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 663,661 shares of the iPhone maker’s stock after acquiring an additional 5,842 shares during the quarter. Apple accounts for approximately 11.1% of First American Bank’s holdings, making the stock its largest holding. First American Bank’s holdings in Apple were worth $154,633,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bull Oak Capital LLC increased its stake in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new position in Apple during the second quarter worth approximately $42,000. Christopher J. Hasenberg Inc lifted its position in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares in the last quarter. Cordant Inc. grew its position in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares during the period. Finally, Sage Financial Group Inc. purchased a new position in Apple in the 2nd quarter valued at about $206,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 35.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 508,170 shares of company stock worth $117,004,745. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

Shares of Apple stock opened at $255.59 on Friday. The business has a 50-day simple moving average of $237.41 and a 200-day simple moving average of $227.65. 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 $260.10. The company has a market cap of $3.86 trillion, a PE ratio of 42.04, a P/E/G ratio of 2.41 and a beta of 1.23.

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

Apple Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have commented on AAPL shares. UBS Group reiterated a “neutral” rating and set a $236.00 price objective on shares of Apple in a research note on Monday, December 2nd. Evercore ISI reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Moffett Nathanson cut their price objective on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. Wedbush raised their target price on shares of Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Maxim Group upped their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $237.47.

About Apple

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.