Enterprise Bank & Trust Co Trims Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Enterprise Bank & Trust Co cut its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,203 shares of the iPhone maker's stock after selling 2,272 shares during the period. Apple accounts for 5.7% of Enterprise Bank & Trust Co's portfolio, making the stock its 3rd largest holding. Enterprise Bank & Trust Co's holdings in Apple were worth $17,330,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Counterweight Ventures LLC boosted its holdings in shares of Apple by 2.3% during the 2nd quarter. Counterweight Ventures LLC now owns 30,531 shares of the iPhone maker's stock worth $6,430,000 after buying an additional 672 shares during the period. Kerusso Capital Management LLC bought a new stake in shares of Apple during the 2nd quarter worth about $3,907,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of Apple by 27.4% during the 2nd quarter. Financial Gravity Asset Management Inc. now owns 16,991 shares of the iPhone maker's stock worth $3,578,000 after buying an additional 3,658 shares during the period. Lynch & Associates IN boosted its holdings in shares of Apple by 3.1% during the 2nd quarter. Lynch & Associates IN now owns 47,860 shares of the iPhone maker's stock worth $10,080,000 after buying an additional 1,442 shares during the period. Finally, Caprock Group LLC boosted its holdings in shares of Apple by 41.5% during the 2nd quarter. Caprock Group LLC now owns 424,428 shares of the iPhone maker's stock worth $89,393,000 after buying an additional 124,488 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

AAPL stock traded down $0.28 during trading on Friday, reaching $245.55. 53,102,300 shares of the company were exchanged, compared to its average volume of 49,742,392. The company has a 50-day moving average of $240.47 and a two-hundred day moving average of $232.55. The company has a market capitalization of $3.69 trillion, a price-to-earnings ratio of 38.98, a P/E/G ratio of 2.44 and a beta of 1.20. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. 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 announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on AAPL shares. Bank of America lifted their target price on shares of Apple from $253.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, January 31st. StockNews.com downgraded shares of Apple from a "buy" rating to a "hold" rating in a report on Friday, November 1st. Redburn Partners set a $230.00 price objective on shares of Apple in a report on Friday, January 31st. Jefferies Financial Group reissued an "underperform" rating on shares of Apple in a report on Wednesday. Finally, TD Cowen reissued a "buy" rating on shares of Apple in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $244.85.

About Apple

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.