Apple Inc. (NASDAQ:AAPL) Stake Decreased by 1ST Source Bank

1ST Source Bank lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,148 shares of the iPhone maker’s stock after selling 1,541 shares during the period. Apple accounts for approximately 2.2% of 1ST Source Bank’s investment portfolio, making the stock its 8th biggest position. 1ST Source Bank’s holdings in Apple were worth $38,479,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Bull Oak Capital LLC boosted its position in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new position in Apple in the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc grew its stake in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the period. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple in the 3rd quarter valued at approximately $77,000. Finally, ARK Investment Management LLC purchased a new stake in shares of Apple during the 3rd quarter valued at approximately $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Up 1.3 %

NASDAQ:AAPL opened at $244.60 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The stock has a market cap of $3.67 trillion, a P/E ratio of 38.83, a P/E/G ratio of 2.32 and a beta of 1.20. 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 stock has a 50-day simple moving average of $240.70 and a 200-day simple moving average of $231.59.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating 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, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group reiterated a “neutral” rating and issued a $236.00 price objective on shares of Apple in a research report on Monday, December 2nd. Moffett Nathanson reissued a “sell” rating and set a $188.00 price objective (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Wells Fargo & Company upped their target price on shares of Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Monness Crespi & Hardt lifted their price target on shares of Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, TD Cowen restated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.52.

Insider Activity

In other news, insider Chris Kondo sold 4,130 shares of the firm’s 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 transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade 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.

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.