Arvest Trust Co. N A Sells 8,218 Shares of Apple Inc. (NASDAQ:AAPL)

Arvest Trust Co. N A trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,004 shares of the iPhone maker’s stock after selling 8,218 shares during the quarter. Apple comprises approximately 1.9% of Arvest Trust Co. N A’s investment portfolio, making the stock its 11th biggest position. Arvest Trust Co. N A’s holdings in Apple were worth $31,594,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Verus Financial Partners Inc. lifted its stake in shares of Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after acquiring an additional 48 shares during the period. Brown Financial Advisory raised its holdings in Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares during the last quarter. Core Wealth Management Inc. raised its holdings in Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares during the last quarter. Lowery Thomas LLC lifted its position in shares of Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. boosted its stake in shares of Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after purchasing an additional 51 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

AAPL opened at $222.01 on Tuesday. The firm has a 50-day moving average price of $227.07 and a 200-day moving average price of $213.03. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 36.51, a PEG ratio of 2.41 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 145.09%. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post 7.48 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio (DPR) is 16.45%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This trade 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. In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were 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 directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 417,924 shares of company stock worth $94,142,399 in the last quarter. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent analyst reports. Maxim Group boosted their target price on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday. Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 price objective (up from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Rosenblatt Securities upped their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday. 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. Finally, Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price target on shares of Apple in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

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.