Apple Inc. (NASDAQ:AAPL) Shares Sold by 1ST Source Bank

1ST Source Bank trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 165,148 shares of the iPhone maker's stock after selling 1,541 shares during the quarter. Apple comprises about 2.2% of 1ST Source Bank's investment portfolio, making the stock its 8th largest holding. 1ST Source Bank's holdings in Apple were worth $38,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Absher Wealth Management LLC boosted its holdings in Apple by 1.3% during the second quarter. Absher Wealth Management LLC now owns 113,796 shares of the iPhone maker's stock worth $23,968,000 after buying an additional 1,499 shares in the last quarter. Cozad Asset Management Inc. grew its position in shares of Apple by 3.2% in the second quarter. Cozad Asset Management Inc. now owns 173,409 shares of the iPhone maker's stock valued at $36,523,000 after purchasing an additional 5,328 shares during the period. Fortis Capital Advisors LLC increased its stake in shares of Apple by 10.0% during the second quarter. Fortis Capital Advisors LLC now owns 74,059 shares of the iPhone maker's stock worth $15,598,000 after purchasing an additional 6,750 shares in the last quarter. Pacific Financial Group Inc. lifted its stake in Apple by 8.0% in the 2nd quarter. Pacific Financial Group Inc. now owns 1,309 shares of the iPhone maker's stock valued at $276,000 after buying an additional 97 shares in the last quarter. Finally, Weaver Capital Management LLC boosted its holdings in Apple by 18.0% in the 2nd quarter. Weaver Capital Management LLC now owns 17,609 shares of the iPhone maker's stock worth $3,709,000 after buying an additional 2,687 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

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Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company's stock.

Apple Trading Up 0.2 %

AAPL traded up $0.52 during trading on Wednesday, hitting $244.99. The company's stock had a trading volume of 24,080,001 shares, compared to its average volume of 53,904,754. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The stock has a market cap of $3.68 trillion, a PE ratio of 38.89, a PEG ratio of 2.43 and a beta of 1.20. The firm's 50 day moving average price is $240.59 and its 200-day moving average price is $232.11. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating 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%. On average, analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple's dividend payout ratio (DPR) is 15.87%.

Analyst Upgrades and Downgrades

AAPL has been the subject of several research reports. TD Cowen reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, January 28th. Maxim Group increased their target price on shares of Apple from $203.00 to $215.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. Oppenheimer lowered Apple from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Sanford C. Bernstein upped their price objective on Apple from $240.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Apple from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus target price of $242.52.

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.