Home Federal Bank of Tennessee Sells 1,153 Shares of Apple Inc. (NASDAQ:AAPL)

Home Federal Bank of Tennessee cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,397 shares of the iPhone maker’s stock after selling 1,153 shares during the quarter. Apple comprises about 2.0% of Home Federal Bank of Tennessee’s holdings, making the stock its 5th largest position. Home Federal Bank of Tennessee’s holdings in Apple were worth $6,850,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AAPL. Carolina Wealth Advisors LLC increased its holdings in shares of Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares during the period. Verus Financial Partners Inc. increased its stake in Apple by 0.3% in the 2nd 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 last quarter. Brown Financial Advisory increased its stake in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 50 shares during the last quarter. Core Wealth Management Inc. raised its holdings in shares of Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after acquiring an additional 50 shares in the last quarter. Finally, Lowery Thomas LLC boosted its position in shares of Apple by 0.7% during the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent analyst reports. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research note on Friday, October 25th. New Street Research reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Barclays lowered their price target on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Finally, Rosenblatt Securities upped their price objective on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $236.78.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction 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 in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares in the company, valued at $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 90 days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by corporate insiders.

Apple Trading Up 1.0 %

NASDAQ:AAPL opened at $253.48 on Wednesday. The company has a 50-day moving average price of $233.64 and a 200-day moving average price of $224.73. The stock has a market cap of $3.83 trillion, a price-to-earnings ratio of 41.69, a P/E/G ratio of 2.41 and a beta of 1.23. 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 $253.83.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating 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 was up 6.1% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

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 $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.39%. Apple’s payout ratio is 16.45%.

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.