Apple Inc. (NASDAQ:AAPL) Position Trimmed by Farmers Trust Co.

Farmers Trust Co. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 114,211 shares of the iPhone maker’s stock after selling 1,590 shares during the quarter. Apple accounts for about 5.0% of Farmers Trust Co.’s investment portfolio, making the stock its 2nd biggest holding. Farmers Trust Co.’s holdings in Apple were worth $26,611,000 at the end of the most recent reporting period.

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

Apple Stock Up 0.1 %

Shares of Apple stock opened at $228.28 on Wednesday. The stock 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 twelve month low of $164.07 and a twelve month high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The business’s 50 day simple moving average is $227.34 and its 200-day simple moving average is $217.31.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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 return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous 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 earnings per share for the current year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Barclays decreased their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Evercore ISI reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Loop Capital lowered their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. New Street Research reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Finally, Oppenheimer restated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $235.25.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % 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 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 408,170 shares of company stock valued at $92,007,745. Corporate insiders own 0.06% of the company’s stock.

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.