Canandaigua National Bank & Trust Co. Purchases 3,963 Shares of Apple Inc. (NASDAQ:AAPL)

Canandaigua National Bank & Trust Co. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 139,337 shares of the iPhone maker’s stock after acquiring an additional 3,963 shares during the quarter. Apple makes up about 3.1% of Canandaigua National Bank & Trust Co.’s portfolio, making the stock its 5th biggest holding. Canandaigua National Bank & Trust Co.’s holdings in Apple were worth $32,466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. China Universal Asset Management Co. Ltd. increased its holdings in Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after buying an additional 42,282 shares during the period. Fountainhead AM LLC grew its position in Apple by 5.9% during the 1st quarter. Fountainhead AM LLC now owns 51,041 shares of the iPhone maker’s stock worth $8,753,000 after acquiring an additional 2,829 shares during the last quarter. SWP Financial LLC increased its stake in shares of Apple by 23.6% in the first quarter. SWP Financial LLC now owns 42,691 shares of the iPhone maker’s stock valued at $7,321,000 after buying an additional 8,158 shares during the period. Concord Wealth Partners raised its stake in shares of Apple by 16.7% during the first quarter. Concord Wealth Partners now owns 71,927 shares of the iPhone maker’s stock valued at $12,334,000 after acquiring an additional 10,286 shares during the last quarter. Finally, Summit Place Financial Advisors LLC lifted its holdings in Apple by 9.0% during the 1st quarter. Summit Place Financial Advisors LLC now owns 34,856 shares of the iPhone maker’s stock worth $5,977,000 after buying an additional 2,867 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

AAPL stock opened at $228.28 on Wednesday. The firm has a 50 day moving average price of $227.34 and a 200-day moving average price of $217.31. The firm has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 37.55, a PEG ratio of 2.20 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

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, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AAPL shares. Oppenheimer reissued a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. New Street Research reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. The Goldman Sachs Group boosted their price objective on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. TD Cowen raised their price target on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Wedbush restated an “outperform” rating and set a $285.00 price target on shares of Apple in a research note on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.25.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction dated 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 transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 408,170 shares of company stock valued at $92,007,745. Company insiders own 0.06% of the company’s stock.

About Apple

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.