Apple Inc. (NASDAQ:AAPL) is Sanibel Captiva Trust Company Inc.’s 2nd Largest Position

Sanibel Captiva Trust Company Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 671,569 shares of the iPhone maker’s stock after selling 18,889 shares during the period. Apple makes up about 5.0% of Sanibel Captiva Trust Company Inc.’s portfolio, making the stock its 2nd biggest position. Sanibel Captiva Trust Company Inc.’s holdings in Apple were worth $156,476,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Swedbank AB acquired a new position in shares of Apple in the first quarter valued at about $3,026,492,000. Strategic Financial Concepts LLC boosted its position in Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after buying an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Apple by 158.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after buying an additional 7,067,379 shares during the period. Lazard Asset Management LLC raised its position in Apple by 161.2% during the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after buying an additional 5,405,542 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Apple during the 2nd quarter valued at approximately $834,368,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. This trade represents a 10.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the company’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 transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 in the last three months. 0.06% of the stock is currently owned by insiders.

Apple Stock Up 0.9 %

Shares of NASDAQ AAPL opened at $235.06 on Wednesday. The stock has a market cap of $3.55 trillion, a PE ratio of 38.66, a P/E/G ratio of 2.25 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The company has a 50-day moving average of $228.43 and a 200 day moving average of $219.01.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share 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 for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period 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. As a group, sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AAPL shares. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, October 1st. Melius Research reissued a “buy” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and raised their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Finally, UBS Group boosted their price target on Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.25.

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.