Penobscot Wealth Management Has $2.79 Million Stake in Apple Inc. (NASDAQ:AAPL)

Penobscot Wealth Management cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,982 shares of the iPhone maker’s stock after selling 56 shares during the quarter. Apple makes up approximately 1.5% of Penobscot Wealth Management’s portfolio, making the stock its 16th biggest position. Penobscot Wealth Management’s holdings in Apple were worth $2,792,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. High Net Worth Advisory Group LLC raised its holdings in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares during the last quarter. Granite Investment Partners LLC increased its position in shares of Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares during the period. Truist Financial Corp raised its stake in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after buying an additional 126,210 shares during the last quarter. Sterling Investment Counsel LLC lifted its holdings in Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after buying an additional 2,565 shares during the period. Finally, EP Wealth Advisors LLC boosted its position in Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after acquiring an additional 95,235 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AAPL. UBS Group reissued a “neutral” rating and issued a $236.00 price objective on shares of Apple in a research note on Monday, December 2nd. Loop Capital dropped their price target on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Wedbush boosted their target price on shares of Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, December 26th. Finally, Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and increased their target price for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $237.47.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

Shares of AAPL stock opened at $243.85 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market cap of $3.69 trillion, a price-to-earnings ratio of 40.11, a P/E/G ratio of 2.41 and a beta of 1.23. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The firm’s 50-day simple moving average is $238.41 and its two-hundred day simple moving average is $228.58.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS 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 the consensus estimate of $94.52 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities 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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. 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.