First National Trust Co Sells 21,655 Shares of Apple Inc. (NASDAQ:AAPL)

First National Trust Co lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 597,424 shares of the iPhone maker’s stock after selling 21,655 shares during the period. Apple comprises 5.2% of First National Trust Co’s investment portfolio, making the stock its largest holding. First National Trust Co’s holdings in Apple were worth $125,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Bellwether Advisors LLC increased its holdings in shares of Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares during the period. WT Asset Management Ltd acquired a new position in shares of Apple in the 2nd quarter valued at about $80,057,000. Councilmark Asset Management LLC acquired a new position in shares of Apple in the 1st quarter valued at about $11,776,000. Hummer Financial Advisory Services Inc increased its holdings in shares of Apple by 2.2% in the 1st quarter. Hummer Financial Advisory Services Inc now owns 5,488 shares of the iPhone maker’s stock valued at $941,000 after purchasing an additional 120 shares during the period. Finally, Bleakley Financial Group LLC increased its holdings in shares of Apple by 1.1% in the 1st quarter. Bleakley Financial Group LLC now owns 617,582 shares of the iPhone maker’s stock valued at $105,903,000 after purchasing an additional 6,567 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on 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 directly owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were 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 owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock worth $114,786,399 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Evercore ISI restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Robert W. Baird increased their price objective on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Oppenheimer restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Sanford C. Bernstein upped their target price on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Finally, Maxim Group reaffirmed a “hold” rating and set a $203.00 target price on shares of Apple in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $239.27.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $235.00 on Friday. The business has a fifty day simple moving average of $225.78 and a 200 day simple moving average of $207.84. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $3.60 trillion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.40 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping 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 in the prior year, the company posted $1.26 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio is currently 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.