Apple Inc. (NASDAQ:AAPL) Shares Sold by Chemung Canal Trust Co.

Chemung Canal Trust Co. lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,246 shares of the iPhone maker’s stock after selling 2,906 shares during the quarter. Apple accounts for about 2.9% of Chemung Canal Trust Co.’s holdings, making the stock its 7th biggest position. Chemung Canal Trust Co.’s holdings in Apple were worth $13,835,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. High Net Worth Advisory Group LLC lifted its holdings in Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after acquiring an additional 1,066 shares during the period. Amara Financial LLC. purchased a new position in shares of Apple in the third quarter valued at $288,000. Truist Financial Corp increased its position in shares of Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after buying an additional 126,210 shares in the last quarter. Sterling Investment Counsel LLC increased its position in shares of Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after buying an additional 2,565 shares in the last quarter. Finally, Silicon Valley Capital Partners increased its position in shares of Apple by 12.8% in the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after buying an additional 28,799 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of research analyst reports. KeyCorp restated an “underweight” rating and issued a $200.00 price target on shares of Apple in a research report on Friday, January 31st. DA Davidson set a $290.00 price target on Apple in a research report on Friday, January 31st. Monness Crespi & Hardt raised their price target on Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Moffett Nathanson restated a “sell” rating and issued a $188.00 price target (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Apple in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.22.

Apple Stock Up 1.8 %

AAPL opened at $213.49 on Monday. The firm has a 50 day moving average price of $234.52 and a 200 day moving average price of $233.82. The company has a market cap of $3.21 trillion, a PE ratio of 33.89, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) 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%. Sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was 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.