UMB Bank n.a. Sells 27,446 Shares of Apple Inc. (NASDAQ:AAPL)

UMB Bank n.a. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,368,060 shares of the iPhone maker's stock after selling 27,446 shares during the quarter. Apple comprises about 5.0% of UMB Bank n.a.'s investment portfolio, making the stock its 3rd biggest position. UMB Bank n.a.'s holdings in Apple were worth $318,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Planned Solutions Inc. lifted its holdings in shares of Apple by 20.8% in the 3rd quarter. Planned Solutions Inc. now owns 20,142 shares of the iPhone maker's stock worth $4,693,000 after acquiring an additional 3,472 shares during the last quarter. Cadinha & Co. LLC raised its position in Apple by 0.5% in the 3rd quarter. Cadinha & Co. LLC now owns 22,725 shares of the iPhone maker's stock worth $5,295,000 after purchasing an additional 117 shares during the period. Cypress Wealth Services LLC lifted its stake in Apple by 0.6% in the third quarter. Cypress Wealth Services LLC now owns 133,518 shares of the iPhone maker's stock worth $31,110,000 after purchasing an additional 817 shares during the last quarter. Morton Capital Management LLC CA boosted its position in shares of Apple by 4.3% during the third quarter. Morton Capital Management LLC CA now owns 66,499 shares of the iPhone maker's stock valued at $15,494,000 after buying an additional 2,719 shares during the period. Finally, Kelly Financial Services LLC grew its stake in shares of Apple by 2.3% during the third quarter. Kelly Financial Services LLC now owns 17,147 shares of the iPhone maker's stock valued at $3,995,000 after buying an additional 382 shares during the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AAPL shares. Bank of America restated a "buy" rating and set a $256.00 price objective on shares of Apple in a report on Thursday, October 3rd. StockNews.com downgraded shares of Apple from a "buy" rating to a "hold" rating in a research note on Friday, November 1st. Citigroup boosted their price objective on shares of Apple to $185.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Wedbush reaffirmed an "outperform" rating and set a $285.00 target price on shares of Apple in a research report on Monday, September 9th. Finally, Tigress Financial boosted their price target on Apple from $245.00 to $295.00 and gave the company a "strong-buy" rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $235.25.

Apple Price Performance

Shares of Apple stock traded down $0.13 on Thursday, hitting $234.93. The company's stock had a trading volume of 33,471,141 shares, compared to its average volume of 58,223,145. The company has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 2.28 and a beta of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a fifty day moving average price of $228.71 and a 200-day moving average price of $219.12.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the company posted $1.46 EPS. The business's quarterly revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple's payout ratio is 16.45%.

Insiders Place Their Bets

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

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.