Orrstown Financial Services Inc. grew its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 147.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,235 shares of the iPhone maker's stock after buying an additional 16,845 shares during the period. Apple accounts for about 1.9% of Orrstown Financial Services Inc.'s portfolio, making the stock its 10th largest position. Orrstown Financial Services Inc.'s holdings in Apple were worth $6,579,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Autumn Glory Partners LLC grew its stake in Apple by 29.6% during the 3rd quarter. Autumn Glory Partners LLC now owns 17,933 shares of the iPhone maker's stock worth $4,182,000 after buying an additional 4,100 shares during the last quarter. Arbor Investment Advisors LLC grew its stake in shares of Apple by 135.3% during the third quarter. Arbor Investment Advisors LLC now owns 60,011 shares of the iPhone maker's stock worth $13,982,000 after acquiring an additional 34,508 shares during the last quarter. Sterling Manor Financial LLC increased its holdings in shares of Apple by 1.4% during the third quarter. Sterling Manor Financial LLC now owns 13,593 shares of the iPhone maker's stock valued at $3,167,000 after acquiring an additional 182 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in shares of Apple by 2.4% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 144,042 shares of the iPhone maker's stock valued at $33,562,000 after purchasing an additional 3,312 shares during the last quarter. Finally, TCP Asset Management LLC boosted its stake in Apple by 1.9% in the 3rd quarter. TCP Asset Management LLC now owns 9,808 shares of the iPhone maker's stock worth $2,285,000 after purchasing an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $273.00 price target on shares of Apple in a report on Friday, December 13th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Rosenblatt Securities increased their price objective on Apple from $261.00 to $262.00 and gave the company a "buy" rating in a report on Friday, November 1st. Oppenheimer restated a "buy" rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Finally, Barclays dropped their target price on Apple from $186.00 to $184.00 and set an "underweight" rating on the stock in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $237.47.
View Our Latest Stock Report on Apple
Apple Price Performance
AAPL stock traded down $3.43 during trading on Friday, hitting $255.59. The stock had a trading volume of 42,297,621 shares, compared to its average volume of 57,290,680. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The company's 50-day moving average price is $237.41 and its two-hundred day moving average price is $227.89. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $3.86 trillion, a P/E ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23.
Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the business posted $1.46 earnings per share. The business's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.
Apple Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.39%. Apple's dividend payout ratio (DPR) is presently 16.45%.
Insider Transactions at Apple
In related news, COO Jeffrey E. Williams sold 100,000 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company's stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock valued at $117,004,745 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.
About Apple
(
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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