Arvest Bank Trust Division Buys Shares of 151,860 Apple Inc. (NASDAQ:AAPL)

Arvest Bank Trust Division bought a new stake in Apple Inc. (NASDAQ:AAPL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 151,860 shares of the iPhone maker’s stock, valued at approximately $35,383,000. Apple makes up approximately 2.0% of Arvest Bank Trust Division’s investment portfolio, making the stock its 11th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. International Assets Investment Management LLC grew its stake in Apple by 20,372.7% in 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 purchasing an additional 93,886,664 shares in the last quarter. State Street Corp lifted its position in shares of Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after buying an additional 55,935,105 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after buying an additional 20,483,787 shares during the last quarter. FMR LLC lifted its position in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after buying an additional 7,558,826 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 1.3 %

NASDAQ AAPL opened at $244.60 on Friday. The firm has a market cap of $3.67 trillion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The stock’s 50 day simple moving average is $240.67 and its 200 day simple moving average is $231.41. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates 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, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is 15.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Morgan Stanley boosted their price objective on Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Moffett Nathanson reissued a “sell” rating and set a $188.00 price objective (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Friday, January 31st. TD Cowen reissued a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Finally, Raymond James boosted their price objective on Apple to $250.00 and gave the stock a “buy” rating in a research report on Monday, January 20th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $242.52.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

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.