Apple Inc. (NASDAQ:AAPL) Stake Cut by Community Bank N.A.

Community Bank N.A. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 393,315 shares of the iPhone maker’s stock after selling 2,906 shares during the quarter. Apple comprises 11.6% of Community Bank N.A.’s portfolio, making the stock its largest holding. Community Bank N.A.’s holdings in Apple were worth $91,642,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Arrowroot Family Office LLC increased its holdings in shares of Apple by 9.4% in the third quarter. Arrowroot Family Office LLC now owns 13,335 shares of the iPhone maker’s stock worth $3,107,000 after purchasing an additional 1,145 shares during the period. Beck Capital Management LLC grew its position in Apple by 84.1% during the third quarter. Beck Capital Management LLC now owns 40,415 shares of the iPhone maker’s stock worth $9,417,000 after buying an additional 18,462 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Apple by 865.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 803,936 shares of the iPhone maker’s stock worth $187,382,000 after acquiring an additional 720,680 shares during the last quarter. Atreides Management LP raised its holdings in shares of Apple by 29.9% in the 3rd quarter. Atreides Management LP now owns 424,965 shares of the iPhone maker’s stock valued at $99,017,000 after acquiring an additional 97,882 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Apple during the 3rd quarter valued at about $10,718,000. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on AAPL. Moffett Nathanson reissued a “sell” rating and issued a $188.00 price target (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. TD Cowen reiterated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Barclays raised their price objective on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Finally, Raymond James upped their target price on Apple to $250.00 and gave the stock a “buy” rating in a research note on Monday, January 20th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $242.52.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value 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 approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Apple Trading Down 2.4 %

AAPL opened at $227.63 on Friday. The business has a 50 day moving average of $241.45 and a 200-day moving average of $230.97. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock has a market cap of $3.42 trillion, a PE ratio of 36.13, a PEG ratio of 2.36 and a beta of 1.20. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10.

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

Apple Announces Dividend

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. The ex-dividend date is Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s payout ratio is 15.87%.

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.