Apple Inc. (NASDAQ:AAPL) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 346,350 shares of the iPhone maker’s stock after selling 3,991 shares during the period. Apple comprises approximately 4.7% of Atlantic Union Bankshares Corp’s portfolio, making the stock its 2nd largest position. Atlantic Union Bankshares Corp’s holdings in Apple were worth $80,700,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bull Oak Capital LLC grew 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 buying an additional 111 shares during the last quarter. Hershey Financial Advisers LLC purchased a new stake in Apple in the second quarter valued at $42,000. Christopher J. Hasenberg Inc boosted its stake in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in shares of Apple during the third quarter worth about $77,000. Finally, ARK Investment Management LLC acquired a new stake in shares of Apple during the third quarter worth about $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on 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 sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AAPL. TD Cowen restated a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Jefferies Financial Group lowered shares of Apple from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $211.84 to $200.75 in a research report on Thursday, January 30th. Bank of America upped their price target on shares of Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Citigroup increased their price target on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group upped their target price on shares of Apple from $280.00 to $294.00 and gave the company a “buy” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.52.

Apple Stock Performance

NASDAQ AAPL opened at $233.22 on Friday. The business has a 50 day moving average price of $241.49 and a 200 day moving average price of $230.96. The company has a market capitalization of $3.51 trillion, a P/E ratio of 37.02, a PEG ratio of 2.36 and a beta of 1.20. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Sell-side analysts expect that Apple Inc. will post 7.33 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Apple 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.