Kennebec Savings Bank Has $7.90 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Kennebec Savings Bank reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,703 shares of the iPhone maker’s stock after selling 744 shares during the quarter. Apple makes up approximately 8.0% of Kennebec Savings Bank’s investment portfolio, making the stock its biggest position. Kennebec Savings Bank’s holdings in Apple were worth $7,900,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp lifted its stake 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 valued at $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. FMR LLC raised its holdings in 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 during the period. Geode Capital Management LLC lifted its position in shares of Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after acquiring an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Apple by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after acquiring an additional 5,893,741 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of Apple by 20,372.7% during 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 in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 1.0 %

NASDAQ:AAPL opened at $223.85 on Friday. The company has a market cap of $3.36 trillion, a price-to-earnings ratio of 35.53, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a twelve month low of $164.08 and a twelve month 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 stock has a fifty day simple moving average of $230.94 and a 200-day simple moving average of $233.28.

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

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s payout ratio is 15.87%.

Analyst Ratings Changes

AAPL has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Friday, January 31st. Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their target price on shares of Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Evercore ISI boosted their price target on shares of Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 18th. Finally, Sanford C. Bernstein raised their price objective on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Four 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.65.

Apple Company 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.