Apple Inc. (NASDAQ:AAPL) Position Lessened by 1ST Source Bank

1ST Source Bank reduced its position in Apple Inc. (NASDAQ:AAPL) by 0.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 166,689 shares of the iPhone maker’s stock after selling 1,558 shares during the period. Apple comprises approximately 2.1% of 1ST Source Bank’s holdings, making the stock its 9th biggest holding. 1ST Source Bank’s holdings in Apple were worth $35,108,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GoalVest Advisory LLC increased its holdings in shares of Apple by 53.1% during the 1st quarter. GoalVest Advisory LLC now owns 10,835 shares of the iPhone maker’s stock worth $1,858,000 after buying an additional 3,757 shares during the last quarter. Key Client Fiduciary Advisors LLC grew its position in Apple by 6.1% during the first quarter. Key Client Fiduciary Advisors LLC now owns 49,858 shares of the iPhone maker’s stock valued at $8,550,000 after acquiring an additional 2,886 shares during the period. Aletheian Wealth Advisors LLC increased its stake in Apple by 71.0% during the first quarter. Aletheian Wealth Advisors LLC now owns 26,776 shares of the iPhone maker’s stock worth $4,592,000 after acquiring an additional 11,116 shares during the last quarter. Visionary Horizons LLC raised its holdings in shares of Apple by 1.4% in the 1st quarter. Visionary Horizons LLC now owns 4,780 shares of the iPhone maker’s stock worth $844,000 after purchasing an additional 66 shares during the period. Finally, Matrix Asset Advisors Inc. NY lifted its stake in shares of Apple by 0.3% in the 1st quarter. Matrix Asset Advisors Inc. NY now owns 139,292 shares of the iPhone maker’s stock valued at $23,886,000 after purchasing an additional 432 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This trade 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 is available through the SEC website. In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This 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, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 517,924 shares of company stock valued at $114,786,399. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 1.8 %

Shares of Apple stock opened at $225.91 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The company has a market capitalization of $3.43 trillion, a P/E ratio of 34.39, a PEG ratio of 2.40 and a beta of 1.24. The business’s fifty day moving average price is $227.26 and its two-hundred day moving average price is $211.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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. The business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 earnings per share. As a group, research analysts forecast that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is 15.22%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AAPL. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research report on Friday, October 25th. Wedbush reissued an “outperform” rating and issued a $285.00 target price on shares of Apple in a research note on Monday, September 9th. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and lifted their target price for the company from $205.00 to $212.92 in a report on Monday, October 7th. Moffett Nathanson initiated coverage on Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target for the company. Finally, Maxim Group reissued a “hold” rating and issued a $203.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $235.91.

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.