Apple Inc. (NASDAQ:AAPL) is Citizens National Bank Trust Department’s Largest Position

Citizens National Bank Trust Department trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,433 shares of the iPhone maker’s stock after selling 433 shares during the quarter. Apple comprises 6.1% of Citizens National Bank Trust Department’s investment portfolio, making the stock its biggest holding. Citizens National Bank Trust Department’s holdings in Apple were worth $28,760,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. lifted its holdings in shares of Apple by 0.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after acquiring an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC raised its position in Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after purchasing an additional 46 shares during the period. Verus Financial Partners Inc. lifted its stake in shares of Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares in the last quarter. Brown Financial Advisory boosted its position in shares of Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after buying an additional 50 shares during the period. Finally, Core Wealth Management Inc. boosted its position in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after buying an additional 50 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred 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 owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of several analyst reports. Loop Capital reduced their price target on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. New Street Research reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and upped their target price for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Rosenblatt Securities lifted their price target on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Evercore ISI reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $238.03.

Apple Trading Up 0.7 %

Shares of NASDAQ:AAPL opened at $245.00 on Tuesday. The company’s 50-day moving average price is $239.15 and its 200 day moving average price is $229.33. The company has a market cap of $3.70 trillion, a PE ratio of 40.30, a P/E/G ratio of 2.41 and a beta of 1.20. 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 fifty-two week low of $164.07 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 EPS. Sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

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

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.