Apple Inc. (NASDAQ:AAPL) Stake Lowered by Huntington National Bank

Huntington National Bank reduced its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,311,423 shares of the iPhone maker’s stock after selling 21,452 shares during the period. Apple accounts for 3.9% of Huntington National Bank’s investment portfolio, making the stock its 2nd biggest holding. Huntington National Bank’s holdings in Apple were worth $538,562,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of AAPL. International Assets Investment Management LLC increased its stake in Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares during the period. Dimensional Fund Advisors LP increased its stake in Apple by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after acquiring an additional 2,785,807 shares during the period. Ameriprise Financial Inc. increased its stake in Apple by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after acquiring an additional 3,245,281 shares during the period. American Century Companies Inc. increased its stake in Apple by 3.2% in the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after acquiring an additional 1,065,759 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Apple by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 34,486,195 shares of the iPhone maker’s stock valued at $8,035,283,000 after acquiring an additional 432,140 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AAPL has been the topic of several research analyst reports. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Rosenblatt Securities upped 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. Evercore ISI reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research note on Friday, October 25th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $238.02.

View Our Latest Analysis on AAPL

Apple Trading Down 3.2 %

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

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for 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%. Apple’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 earnings per share. On average, sell-side 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of the firm’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 completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Apple Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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