Parkside Financial Bank & Trust Sells 362 Shares of Apple Inc. (NASDAQ:AAPL)

Parkside Financial Bank & Trust trimmed its position in Apple Inc. (NASDAQ:AAPL) by 0.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 168,712 shares of the iPhone maker’s stock after selling 362 shares during the period. Apple makes up approximately 5.6% of Parkside Financial Bank & Trust’s investment portfolio, making the stock its largest holding. Parkside Financial Bank & Trust’s holdings in Apple were worth $35,534,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fidelis Capital Partners LLC lifted its position in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares in the last quarter. Access Investment Management LLC acquired a new stake in shares of Apple in the first quarter valued at about $140,000. Hoese & Co LLP increased its position in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new position in Apple during the second quarter valued at approximately $206,000. Finally, Benchmark Wealth Management LLC bought a new position in Apple in the second quarter valued at approximately $208,000. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AAPL. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Thursday, September 19th. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Tigress Financial upped their target price on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Evercore ISI reiterated a “buy” rating and set a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Finally, New Street Research restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has issued 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 $239.27.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock worth $114,786,399 over the last 90 days. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $236.48 on Tuesday. 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 company has a market cap of $3.63 trillion, a PE ratio of 36.78, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The company has a 50 day moving average of $226.16 and a 200-day moving average of $208.86. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter last year, the business posted $1.26 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio 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.