Farmers National Bank Sells 1,385 Shares of Apple Inc. (NASDAQ:AAPL)

Farmers National Bank reduced its stake in Apple Inc. (NASDAQ:AAPL) by 1.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 92,597 shares of the iPhone maker’s stock after selling 1,385 shares during the quarter. Apple makes up 5.9% of Farmers National Bank’s investment portfolio, making the stock its 2nd largest holding. Farmers National Bank’s holdings in Apple were worth $19,503,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fidelis Capital Partners LLC increased its position in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the last quarter. Hershey Financial Advisers LLC purchased a new stake in shares of Apple during the 2nd quarter valued at $42,000. Access Investment Management LLC purchased a new stake in shares of Apple during the 1st quarter valued at $140,000. Hoese & Co LLP increased its position in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. purchased a new stake in shares of Apple during the 2nd quarter valued at $206,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ AAPL opened at $225.00 on Monday. The firm has a market cap of $3.40 trillion, a price-to-earnings ratio of 37.01, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The business has a 50-day moving average price of $227.04 and a 200-day moving average price of $216.61. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 404,040 shares of company stock valued at $91,062,512. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of several research reports. TD Cowen increased their price target on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. UBS Group increased their price target on Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Melius Research reiterated a “buy” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. Finally, Barclays cut their price target on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $235.51.

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.