Zions Bancorporation N.A. Has $24.85 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Zions Bancorporation N.A. lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 106,630 shares of the iPhone maker’s stock after acquiring an additional 3,924 shares during the period. Apple makes up 1.8% of Zions Bancorporation N.A.’s investment portfolio, making the stock its 9th biggest position. Zions Bancorporation N.A.’s holdings in Apple were worth $24,845,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in AAPL. Lantz Financial LLC lifted its holdings in shares of Apple by 8.6% during the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after acquiring an additional 2,361 shares during the last quarter. TFC Financial Management Inc. lifted its holdings in shares of Apple by 0.7% during the 2nd quarter. TFC Financial Management Inc. now owns 52,910 shares of the iPhone maker’s stock worth $11,144,000 after acquiring an additional 377 shares during the last quarter. Busey Bank lifted its holdings in shares of Apple by 0.8% during the 2nd quarter. Busey Bank now owns 1,025,702 shares of the iPhone maker’s stock worth $216,033,000 after acquiring an additional 7,805 shares during the last quarter. Iowa State Bank raised its position in Apple by 1.8% in the 2nd quarter. Iowa State Bank now owns 83,106 shares of the iPhone maker’s stock worth $17,504,000 after purchasing an additional 1,431 shares during the period. Finally, First Bancorp Inc ME raised its position in Apple by 3.3% in the 2nd quarter. First Bancorp Inc ME now owns 30,201 shares of the iPhone maker’s stock worth $6,361,000 after purchasing an additional 956 shares during the period. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

NASDAQ:AAPL opened at $222.64 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $3.35 trillion, a price-to-earnings ratio of 36.62, a price-to-earnings-growth ratio of 2.25 and a beta of 1.20. The company has a 50 day moving average price of $241.12 and a 200-day moving average price of $230.85. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last posted its earnings results 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. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 EPS. Equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AAPL. UBS Group reiterated a “neutral” rating and issued a $236.00 target price on shares of Apple in a research report on Monday, December 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Bank of America reaffirmed a “buy” rating and set a $256.00 target price on shares of Apple in a research note on Friday, January 3rd. Rosenblatt Securities boosted their price objective on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Evercore ISI reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $238.02.

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.