Apple Inc. (NASDAQ:AAPL) Holdings Lifted by Chemung Canal Trust Co.

Chemung Canal Trust Co. raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 40.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,152 shares of the iPhone maker's stock after acquiring an additional 16,746 shares during the quarter. Apple makes up 2.7% of Chemung Canal Trust Co.'s portfolio, making the stock its 8th biggest holding. Chemung Canal Trust Co.'s holdings in Apple were worth $13,549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Fidelis Capital Partners LLC increased its stake in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker's stock valued at $35,000 after purchasing an additional 31,278 shares during the last quarter. Hershey Financial Advisers LLC purchased a new position in shares of Apple in the 2nd quarter worth about $42,000. Access Investment Management LLC purchased a new position in shares of Apple in the 1st quarter worth about $140,000. Hoese & Co LLP raised its holdings in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker's stock worth $175,000 after purchasing an additional 57 shares during the period. Finally, Sage Financial Group Inc. acquired a new stake in shares of Apple in the second quarter valued at about $206,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on 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 directly owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

Apple stock traded down $0.56 during mid-day trading on Thursday, hitting $228.44. 29,288,498 shares of the company's stock traded hands, compared to its average volume of 58,329,168. The firm has a 50 day moving average price of $227.59 and a 200 day moving average price of $217.47. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.45 trillion, a PE ratio of 37.57, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.49.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating 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 company had revenue of $94.93 billion for the quarter, compared to analysts' expectations of $94.52 billion. During the same period last year, the firm earned $1.46 EPS. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple's dividend payout ratio (DPR) is presently 16.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Robert W. Baird increased their target price on Apple from $200.00 to $240.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Raymond James raised their price objective on Apple from $200.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. KeyCorp lowered Apple from a "sector weight" rating to an "underweight" rating and set a $200.00 price objective for the company. in a research note on Friday, October 25th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Finally, Moffett Nathanson reduced their target price on Apple from $211.00 to $202.00 and set a "neutral" rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and an average price target of $235.25.

Apple Company 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.