Apple Inc. (NASDAQ:AAPL) is Field & Main Bank’s 2nd Largest Position

Field & Main Bank trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,475 shares of the iPhone maker’s stock after selling 1,450 shares during the period. Apple makes up 6.4% of Field & Main Bank’s investment portfolio, making the stock its 2nd largest holding. Field & Main Bank’s holdings in Apple were worth $18,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. Bull Oak Capital LLC raised its holdings in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new position in shares of Apple during the second quarter worth $42,000. Christopher J. Hasenberg Inc increased its holdings in shares of 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. ARK Investment Management LLC bought a new position in shares of Apple during the 3rd quarter valued at approximately $110,000. Finally, Cordant Inc. increased its holdings in shares of Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on AAPL shares. Wedbush lifted their price target on shares of Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, December 26th. Morgan Stanley restated an “overweight” rating and issued a $273.00 price target on shares of Apple in a report on Friday, December 13th. UBS Group restated a “neutral” rating and set a $236.00 price objective on shares of Apple in a research note on Monday, December 2nd. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $239.85.

Apple Trading Up 2.0 %

NASDAQ:AAPL opened at $237.87 on Thursday. The company has a market capitalization of $3.58 trillion, a P/E ratio of 39.12, a P/E/G ratio of 2.41 and a beta of 1.20. The stock’s 50 day moving average price is $240.63 and its 200 day moving average price is $230.52. 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 52 week low of $164.07 and a 52 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 for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the previous year, the company earned $1.46 earnings per share. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

Apple 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.