Trustmark National Bank Trust Department Has $25.13 Million Stake in Apple Inc. (NASDAQ:AAPL)

Trustmark National Bank Trust Department reduced its position in Apple Inc. (NASDAQ:AAPL) by 12.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 107,867 shares of the iPhone maker’s stock after selling 14,705 shares during the period. Apple accounts for about 1.9% of Trustmark National Bank Trust Department’s portfolio, making the stock its 10th largest position. Trustmark National Bank Trust Department’s holdings in Apple were worth $25,133,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bull Oak Capital LLC raised its position in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new position in Apple during the 2nd quarter valued at approximately $42,000. Christopher J. Hasenberg Inc raised its holdings in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the last quarter. ARK Investment Management LLC acquired a new stake in shares of Apple during the third quarter worth $110,000. Finally, Cordant Inc. grew its holdings in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Down 0.7 %

Shares of Apple stock opened at $237.62 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The firm has a market capitalization of $3.57 trillion, a PE ratio of 39.08, a P/E/G ratio of 2.19 and a beta of 1.20. The firm’s 50-day moving average price is $241.37 and its 200 day moving average price is $230.81.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. On average, sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple’s payout ratio is 16.45%.

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Tuesday, January 21st. UBS Group restated a “neutral” rating and issued a $236.00 price objective on shares of Apple in a research note on Monday, December 2nd. Bank of America reiterated a “buy” rating and issued a $253.00 target price (down previously from $256.00) on shares of Apple in a research report on Friday, January 24th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Citigroup upped their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $238.05.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction 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 in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 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 disclosure for this sale can be found here. Company 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.