Apple Inc. (NASDAQ:AAPL) Shares Sold by Security National Bank

Security National Bank cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,890 shares of the iPhone maker’s stock after selling 1,437 shares during the period. Apple comprises approximately 3.7% of Security National Bank’s portfolio, making the stock its 5th largest position. Security National Bank’s holdings in Apple were worth $25,462,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Christopher J. Hasenberg Inc acquired a new position in shares of Apple in the first quarter worth approximately $35,000. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple in the 4th quarter worth approximately $39,000. University of Texas Texas AM Investment Managment Co. boosted its stake in shares of Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the last quarter. Clarity Asset Management Inc. acquired a new stake in shares of Apple during the fourth quarter worth $85,000. Finally, Clear Street Markets LLC raised its stake in Apple by 100.6% during the fourth quarter. Clear Street Markets LLC now owns 483 shares of the iPhone maker’s stock worth $93,000 after buying an additional 83,965 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,884 shares of company stock worth $23,723,887. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AAPL shares. Oppenheimer reaffirmed an “outperform” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, September 10th. TD Cowen lifted their target price on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. StockNews.com upgraded Apple from a “hold” rating to a “buy” rating in a report on Friday. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Finally, Wedbush reissued an “outperform” rating and set a $285.00 target price on shares of Apple in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $239.17.

Apple Stock Performance

Shares of AAPL opened at $228.20 on Monday. The stock has a 50 day moving average of $222.41 and a 200 day moving average of $200.41. The company has a market capitalization of $3.50 trillion, a price-to-earnings ratio of 35.49, a PEG ratio of 2.62 and a beta of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period last year, the firm posted $1.26 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

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.