Orrstown Financial Services Inc. Has $7.13 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Orrstown Financial Services Inc. lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,451 shares of the iPhone maker’s stock after buying an additional 216 shares during the quarter. Apple comprises approximately 1.9% of Orrstown Financial Services Inc.’s investment portfolio, making the stock its 9th largest holding. Orrstown Financial Services Inc.’s holdings in Apple were worth $7,125,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares during the period. State Street Corp boosted its position in shares of Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after buying an additional 20,483,787 shares during the period. FMR LLC increased its holdings in shares of Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after acquiring an additional 18,224,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Apple by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after purchasing an additional 5,893,741 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Trading Up 1.1 %

Apple stock opened at $220.73 on Tuesday. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The business’s fifty day moving average is $231.54 and its 200 day moving average is $233.41. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock has a market capitalization of $3.32 trillion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AAPL. Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Wedbush reiterated an “outperform” rating and issued a $325.00 target price on shares of Apple in a research note on Friday, March 14th. Wells Fargo & Company upped their price objective on shares of Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Loop Capital lowered Apple from a “buy” rating to a “hold” rating and set a $230.00 target price for the company. in a report on Tuesday, January 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.65.

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.