Apple Inc. (NASDAQ:AAPL) is Umpqua Bank’s 2nd Largest Position

Umpqua Bank lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 60,644 shares of the iPhone maker’s stock after selling 3,424 shares during the period. Apple accounts for approximately 5.2% of Umpqua Bank’s portfolio, making the stock its 2nd biggest position. Umpqua Bank’s holdings in Apple were worth $14,130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Benchmark Financial Wealth Advisors LLC raised its position in shares of Apple by 5.4% during the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 37,189 shares of the iPhone maker’s stock valued at $8,665,000 after buying an additional 1,902 shares during the period. Radnor Capital Management LLC increased its stake in Apple by 9.4% during the third quarter. Radnor Capital Management LLC now owns 79,929 shares of the iPhone maker’s stock worth $18,623,000 after acquiring an additional 6,857 shares during the last quarter. Leslie Global Wealth LLC raised its position in Apple by 25.3% in the third quarter. Leslie Global Wealth LLC now owns 26,042 shares of the iPhone maker’s stock valued at $6,068,000 after purchasing an additional 5,254 shares during the period. Wisconsin Capital Management LLC lifted its stake in shares of Apple by 3.9% in the 3rd quarter. Wisconsin Capital Management LLC now owns 47,651 shares of the iPhone maker’s stock valued at $11,103,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Financial Security Advisor Inc. grew its holdings in shares of Apple by 1.5% during the 3rd quarter. Financial Security Advisor Inc. now owns 55,599 shares of the iPhone maker’s stock worth $12,955,000 after purchasing an additional 810 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $236.85 on Friday. The firm has a market capitalization of $3.58 trillion, a P/E ratio of 38.96, a P/E/G ratio of 2.41 and a beta of 1.20. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The firm’s 50 day moving average is $240.18 and its two-hundred day moving average is $229.95.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $1.46 EPS. The company’s revenue was up 6.1% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Loop Capital decreased their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. UBS Group restated a “neutral” rating and issued a $236.00 price objective on shares of Apple in a report on Monday, December 2nd. Wedbush lifted their target price on shares of Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, December 26th. Wells Fargo & Company upped their price target on Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Citigroup lifted their price objective on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $239.85.

Insider Activity

In other news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 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.