Perkins Coie Trust Co Sells 2,539 Shares of Apple Inc. (NASDAQ:AAPL)

Perkins Coie Trust Co trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,726 shares of the iPhone maker’s stock after selling 2,539 shares during the period. Apple accounts for approximately 5.2% of Perkins Coie Trust Co’s holdings, making the stock its 4th largest holding. Perkins Coie Trust Co’s holdings in Apple were worth $23,721,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Financial & Tax Architects LLC increased its stake in shares of Apple by 17.1% in the 2nd quarter. Financial & Tax Architects LLC now owns 9,392 shares of the iPhone maker’s stock valued at $1,978,000 after buying an additional 1,370 shares during the period. DecisionPoint Financial LLC boosted its holdings in Apple by 1.7% in the second quarter. DecisionPoint Financial LLC now owns 10,815 shares of the iPhone maker’s stock valued at $2,402,000 after acquiring an additional 180 shares during the last quarter. E Fund Management Co. Ltd. increased its position in Apple by 31.6% in the second quarter. E Fund Management Co. Ltd. now owns 306,884 shares of the iPhone maker’s stock worth $64,636,000 after purchasing an additional 73,629 shares during the period. Central Asset Investments & Management Holdings HK Ltd bought a new stake in Apple during the 2nd quarter worth about $1,996,000. Finally, Meridian Wealth Partners LLC lifted its position in Apple by 2.4% during the 2nd quarter. Meridian Wealth Partners LLC now owns 39,235 shares of the iPhone maker’s stock valued at $8,264,000 after purchasing an additional 930 shares during the period. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several analyst reports. Redburn Partners set a $230.00 price target on shares of Apple in a research report on Friday, January 31st. Wedbush reaffirmed an “outperform” rating and set a $325.00 target price on shares of Apple in a report on Monday. JPMorgan Chase & Co. increased their price target on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Finally, Monness Crespi & Hardt upped their price objective on Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Four 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.88.

Insider Activity

In other Apple news, 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 sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

Apple Stock Down 0.1 %

Shares of AAPL stock opened at $235.74 on Thursday. The firm’s fifty day moving average price is $238.36 and its two-hundred day moving average price is $233.93. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $3.54 trillion, a P/E ratio of 37.42, a PEG ratio of 2.44 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) 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%. On average, equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is presently 15.87%.

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.