Canandaigua National Bank & Trust Co. Decreases Stake in Apple Inc. (NASDAQ:AAPL)

Canandaigua National Bank & Trust Co. decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,307 shares of the iPhone maker’s stock after selling 4,030 shares during the period. Apple accounts for about 3.3% of Canandaigua National Bank & Trust Co.’s portfolio, making the stock its 5th biggest holding. Canandaigua National Bank & Trust Co.’s holdings in Apple were worth $33,884,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AAPL. Nottingham Advisors Inc. boosted its stake in Apple by 23.8% during the second quarter. Nottingham Advisors Inc. now owns 22,070 shares of the iPhone maker’s stock valued at $4,648,000 after buying an additional 4,237 shares during the last quarter. Hohimer Wealth Management LLC boosted its position in shares of Apple by 6.1% during the 2nd quarter. Hohimer Wealth Management LLC now owns 39,126 shares of the iPhone maker’s stock valued at $8,241,000 after acquiring an additional 2,254 shares during the last quarter. SouthState Corp boosted its position in shares of Apple by 1.2% during the 2nd quarter. SouthState Corp now owns 295,296 shares of the iPhone maker’s stock valued at $62,195,000 after acquiring an additional 3,645 shares during the last quarter. First Business Financial Services Inc. grew its holdings in shares of Apple by 1.6% in the second quarter. First Business Financial Services Inc. now owns 52,686 shares of the iPhone maker’s stock valued at $11,097,000 after purchasing an additional 834 shares in the last quarter. Finally, Bordeaux Wealth Advisors LLC increased its position in Apple by 8.9% in the second quarter. Bordeaux Wealth Advisors LLC now owns 168,676 shares of the iPhone maker’s stock worth $35,527,000 after purchasing an additional 13,807 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $244.60 on Tuesday. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The company has a 50-day simple moving average of $240.70 and a 200-day simple moving average of $231.75. 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 market capitalization of $3.67 trillion, a price-to-earnings ratio of 38.83, a PEG ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its earnings results 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 net margin of 24.30% and a return on equity of 160.83%. On average, analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple 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 completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of several research reports. UBS Group reiterated a “neutral” rating and set a $236.00 price objective on shares of Apple in a research report on Monday, December 2nd. Monness Crespi & Hardt lifted their price target on Apple to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Moffett Nathanson restated 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. Rosenblatt Securities reiterated a “buy” rating and issued a $262.00 target price on shares of Apple in a report on Monday, January 27th. Finally, Maxim Group increased their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, ten have issued 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $242.52.

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.