Trust Co. of Toledo NA OH reduced its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,830 shares of the iPhone maker's stock after selling 5,870 shares during the quarter. Apple makes up approximately 6.0% of Trust Co. of Toledo NA OH's holdings, making the stock its 2nd largest holding. Trust Co. of Toledo NA OH's holdings in Apple were worth $54,540,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First National Bank of Hutchinson grew its stake in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Eagle Capital Management LLC lifted its holdings in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after buying an additional 272 shares in the last quarter. Brighton Jones LLC boosted its position in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after buying an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after buying an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE increased its stake in shares of Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after buying an additional 1,155 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.
Apple Stock Down 0.1%
Apple stock opened at $269.77 on Friday. The firm has a market capitalization of $4.00 trillion, a price-to-earnings ratio of 40.94, a PEG ratio of 2.62 and a beta of 1.08. The company's 50 day simple moving average is $251.53 and its 200 day simple moving average is $224.02. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $277.32.
Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.11. The company had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $1.64 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Monday, November 10th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, November 10th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's payout ratio is currently 13.92%.
Insiders Place Their Bets
In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the firm's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 224,300 shares of company stock valued at $57,586,933 in the last three months. Insiders own 0.06% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Morgan Stanley upped their price target on Apple from $298.00 to $305.00 and gave the company an "overweight" rating in a research note on Friday, October 31st. DA Davidson upped their target price on shares of Apple from $250.00 to $270.00 and gave the company a "neutral" rating in a research report on Friday, October 31st. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating and lifted their price target for the stock from $203.07 to $246.99 in a research report on Friday, October 31st. Cowen reissued a "buy" rating on shares of Apple in a research note on Monday, October 27th. Finally, Citigroup reaffirmed a "buy" rating and issued a $315.00 price objective (up from $245.00) on shares of Apple in a research note on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $278.22.
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.
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