Citizens Business Bank Has $16.67 Million Position in Apple Inc. (NASDAQ:AAPL)

Citizens Business Bank trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,543 shares of the iPhone maker’s stock after selling 1,222 shares during the quarter. Apple accounts for 3.4% of Citizens Business Bank’s portfolio, making the stock its 5th largest holding. Citizens Business Bank’s holdings in Apple were worth $16,670,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AAPL. 1620 Investment Advisors Inc. boosted its holdings in Apple by 0.5% during the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after buying an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC boosted its holdings in Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after buying an additional 46 shares during the last quarter. Verus Financial Partners Inc. boosted its holdings in 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 buying an additional 48 shares during the last quarter. Menard Financial Group LLC boosted its holdings in Apple by 0.4% during the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock worth $2,848,000 after buying an additional 48 shares during the last quarter. Finally, Lowery Thomas LLC boosted its holdings in Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after buying an additional 50 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. TD Cowen restated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Wedbush restated an “outperform” rating and set a $325.00 target price on shares of Apple in a report on Thursday, January 23rd. Jefferies Financial Group cut Apple from a “hold” rating to an “underperform” rating and cut their price objective for the company from $211.84 to $200.75 in a report on Thursday, January 30th. Finally, Argus upgraded Apple to a “strong-buy” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $242.52.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s 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 transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was 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. The trade was 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 insiders.

Apple Stock Up 1.3 %

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

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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%. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued 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 Monday, February 10th. Apple’s payout ratio is presently 15.87%.

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.