Apple Inc. (NASDAQ:AAPL) is First Commonwealth Financial Corp PA’s 4th Largest Position

First Commonwealth Financial Corp PA boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,656 shares of the iPhone maker’s stock after acquiring an additional 1,588 shares during the quarter. Apple accounts for about 4.3% of First Commonwealth Financial Corp PA’s investment portfolio, making the stock its 4th largest holding. First Commonwealth Financial Corp PA’s holdings in Apple were worth $18,094,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AAPL. High Net Worth Advisory Group LLC raised its stake in shares of Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares in the last quarter. Amara Financial LLC. acquired a new position in Apple in the third quarter worth approximately $288,000. Granite Investment Partners LLC raised its position in Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares in the last quarter. Truist Financial Corp lifted its stake in Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares during the last quarter. Finally, Sterling Investment Counsel LLC grew its position in Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after acquiring an additional 2,565 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $232.80 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company has a 50-day moving average of $241.58 and a 200-day moving average of $230.89. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a market capitalization of $3.50 trillion, a price-to-earnings ratio of 36.95, a PEG ratio of 2.36 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, equities research analysts anticipate that Apple Inc. will post 7.33 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. Apple’s payout ratio is presently 15.87%.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was 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 $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on AAPL. Citigroup raised their price target on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 31st. Maxim Group raised their target price on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Bank of America boosted their price target on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. UBS Group reissued a “neutral” rating and set a $236.00 price objective on shares of Apple in a report on Monday, December 2nd. Finally, Morgan Stanley boosted their target price on Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $242.52.

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.