Northwest Bancshares Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,037 shares of the iPhone maker's stock after selling 8,054 shares during the quarter. Apple makes up approximately 2.7% of Northwest Bancshares Inc.'s holdings, making the stock its 4th biggest holding. Northwest Bancshares Inc.'s holdings in Apple were worth $16,086,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Optas LLC increased its stake in shares of Apple by 10.8% in the second quarter. Optas LLC now owns 70,806 shares of the iPhone maker's stock valued at $14,913,000 after purchasing an additional 6,896 shares during the period. Independence Bank of Kentucky boosted its holdings in shares of Apple by 7.3% in the second quarter. Independence Bank of Kentucky now owns 79,411 shares of the iPhone maker's stock valued at $16,726,000 after acquiring an additional 5,386 shares in the last quarter. Keb Asset Management LLC boosted its holdings in shares of Apple by 1.2% in the second quarter. Keb Asset Management LLC now owns 13,755 shares of the iPhone maker's stock valued at $2,897,000 after acquiring an additional 159 shares in the last quarter. Calamos Wealth Management LLC boosted its holdings in shares of Apple by 3.5% in the second quarter. Calamos Wealth Management LLC now owns 666,570 shares of the iPhone maker's stock valued at $140,393,000 after acquiring an additional 22,386 shares in the last quarter. Finally, POM Investment Strategies LLC boosted its holdings in shares of Apple by 6.3% in the second quarter. POM Investment Strategies LLC now owns 9,829 shares of the iPhone maker's stock valued at $2,070,000 after acquiring an additional 583 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Stock Down 0.6 %
Shares of Apple stock traded down $1.54 during midday trading on Wednesday, reaching $236.73. 26,070,409 shares of the company's stock traded hands, compared to its average volume of 56,841,055. The company has a market cap of $3.56 trillion, a price-to-earnings ratio of 38.88, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The company's 50 day simple moving average is $241.17 and its 200 day simple moving average is $230.75. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 EPS. Equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.
Apple Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple's dividend payout ratio (DPR) is presently 16.45%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. StockNews.com cut shares of Apple from a "buy" rating to a "hold" rating in a report on Friday, November 1st. Barclays decreased their price objective on shares of Apple from $184.00 to $183.00 and set an "underweight" rating for the company in a report on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their target price on shares of Apple from $265.00 to $260.00 and set an "overweight" rating for the company in a report on Tuesday, January 21st. Needham & Company LLC restated a "buy" rating and set a $260.00 target price on shares of Apple in a report on Tuesday, January 21st. Finally, Morgan Stanley restated an "overweight" rating and set a $273.00 target price on shares of Apple in a report on Friday, December 13th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and an average price target of $238.05.
Get Our Latest Research Report on AAPL
Insider Buying and Selling
In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.
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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