Apple Inc. (NASDAQ:AAPL) is Oakworth Capital Inc.'s 8th Largest Position

Oakworth Capital Inc. cut its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,271 shares of the iPhone maker's stock after selling 13,935 shares during the quarter. Apple comprises about 3.3% of Oakworth Capital Inc.'s holdings, making the stock its 8th largest position. Oakworth Capital Inc.'s holdings in Apple were worth $48,294,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Hershey Financial Advisers LLC purchased a new position in Apple during the second quarter worth about $42,000. Christopher J. Hasenberg Inc grew its holdings in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock worth $69,000 after purchasing an additional 144 shares in the last quarter. Cordant Inc. increased its position in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker's stock worth $158,000 after purchasing an additional 173 shares during the last quarter. Hoese & Co LLP raised its stake in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker's stock valued at $175,000 after purchasing an additional 57 shares in the last quarter. Finally, Sage Financial Group Inc. purchased a new stake in Apple during the second quarter valued at about $206,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. Citigroup increased their target price on Apple to $185.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Needham & Company LLC reissued a "buy" rating and set a $260.00 price objective on shares of Apple in a research note on Tuesday, December 10th. Bank of America lifted their target price on shares of Apple to $256.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Evercore ISI reissued a "buy" rating and issued a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Finally, Loop Capital lowered their price target on Apple from $300.00 to $275.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $236.78.

Apple Stock Down 0.4 %

AAPL stock opened at $252.55 on Wednesday. The stock has a market capitalization of $3.82 trillion, a PE ratio of 41.69, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $253.83. The firm has a 50 day moving average of $233.64 and a 200 day moving average of $224.73.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analysts' expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 EPS. Sell-side analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. Apple's payout ratio is 16.45%.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 223,986 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company's stock.

About Apple

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.