First National Trust Co decreased its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 591,107 shares of the iPhone maker’s stock after selling 6,317 shares during the period. Apple accounts for approximately 5.3% of First National Trust Co’s portfolio, making the stock its biggest holding. First National Trust Co’s holdings in Apple were worth $137,728,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of AAPL. High Net Worth Advisory Group LLC grew its holdings in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after acquiring an additional 1,066 shares during the period. Granite Investment Partners LLC grew its holdings in 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 acquiring an additional 7,606 shares during the period. Truist Financial Corp grew its holdings in Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares during the last quarter. Sterling Investment Counsel LLC grew 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 purchasing an additional 2,565 shares during the last quarter. Finally, Silicon Valley Capital Partners grew its holdings in Apple by 12.8% in the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after purchasing an additional 28,799 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Apple Price Performance
Shares of NASDAQ AAPL opened at $229.98 on Monday. The firm has a market cap of $3.46 trillion, a PE ratio of 37.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The business has a 50 day moving average price of $241.01 and a two-hundred day moving average price of $230.72. 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 fifty-two week low of $164.07 and a fifty-two week high of $260.10.
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 $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is 16.45%.
Wall Street Analyst Weigh In
Several analysts have weighed in on AAPL shares. Sanford C. Bernstein upped their target price on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Citigroup upped their target price on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped their target price on Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Barclays upped their target price on Apple to $184.00 and gave the company a “sell” rating in a report on Friday, January 10th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Friday, December 13th. Three investment 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $239.85.
View Our Latest Stock Analysis on Apple
Insider Transactions at Apple
In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of 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 position. The disclosure for this sale can be found here. 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.
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