Canandaigua National Trust Co of Florida Purchases 3,433 Shares of Apple Inc. (NASDAQ:AAPL)

Canandaigua National Trust Co of Florida grew its position in Apple Inc. (NASDAQ:AAPL) by 29.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,246 shares of the iPhone maker’s stock after buying an additional 3,433 shares during the period. Apple accounts for approximately 3.0% of Canandaigua National Trust Co of Florida’s investment portfolio, making the stock its 7th largest holding. Canandaigua National Trust Co of Florida’s holdings in Apple were worth $3,818,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bull Oak Capital LLC lifted its stake in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc raised its position 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 acquiring an additional 144 shares during the period. SPX Gestao de Recursos Ltda bought a new position in Apple during the 3rd quarter worth approximately $71,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Apple during the third quarter valued at approximately $77,000. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AAPL. Wedbush reissued an “outperform” rating and issued a $325.00 price target on shares of Apple in a report on Thursday, January 23rd. JPMorgan Chase & Co. raised their price target on Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Wells Fargo & Company boosted their price objective on Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Raymond James raised their target price on shares of Apple to $250.00 and gave the stock a “buy” rating in a report on Monday, January 20th. Finally, Maxim Group upped their price target on shares of 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 assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $242.52.

Apple Stock Performance

NASDAQ:AAPL opened at $244.60 on Tuesday. 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 Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The stock has a market cap of $3.67 trillion, a P/E ratio of 38.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The firm’s fifty day simple moving average is $240.70 and its 200 day simple moving average is $231.75.

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

Apple Announces Dividend

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

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

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.