Huntington National Bank Sells 21,452 Shares of Apple Inc. (NASDAQ:AAPL)

Huntington National Bank trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,311,423 shares of the iPhone maker's stock after selling 21,452 shares during the period. Apple accounts for about 3.9% of Huntington National Bank's investment portfolio, making the stock its 2nd biggest holding. Huntington National Bank's holdings in Apple were worth $538,562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of AAPL. High Net Worth Advisory Group LLC boosted its stake in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker's stock worth $14,916,000 after acquiring an additional 1,066 shares in the last quarter. Granite Investment Partners LLC grew its stake in shares of Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker's stock worth $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Truist Financial Corp raised its position in shares of Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker's stock worth $1,473,224,000 after purchasing an additional 126,210 shares during the last quarter. Sterling Investment Counsel LLC boosted its stake in Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker's stock worth $16,269,000 after purchasing an additional 2,565 shares in the last quarter. Finally, Silicon Valley Capital Partners lifted its stake in shares of Apple by 12.8% in the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker's stock worth $59,122,000 after buying an additional 28,799 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Loop Capital cut shares of Apple from a "buy" rating to a "hold" rating and set a $230.00 price objective for the company. in a report on Tuesday. Sanford C. Bernstein boosted their price objective on shares of Apple from $240.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Citigroup raised their target price on Apple to $185.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $273.00 price objective on shares of Apple in a research note on Friday, December 13th. Finally, Raymond James upped their price target on shares of Apple to $250.00 and gave the stock a "buy" rating in a research report on Monday. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $238.02.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm'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 completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Down 3.2 %

NASDAQ AAPL opened at $222.64 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock has a market cap of $3.35 trillion, a PE ratio of 36.62, a PEG ratio of 2.25 and a beta of 1.20. The company's 50-day moving average price is $241.12 and its 200-day moving average price is $230.85. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10.

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple's dividend payout ratio is currently 16.45%.

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.