MidWestOne Financial Group Inc. Decreases Stake in Apple Inc. (NASDAQ:AAPL)

MidWestOne Financial Group Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 138,154 shares of the iPhone maker's stock after selling 1,987 shares during the period. Apple makes up approximately 4.4% of MidWestOne Financial Group Inc.'s investment portfolio, making the stock its 2nd largest position. MidWestOne Financial Group Inc.'s holdings in Apple were worth $32,190,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bull Oak Capital LLC grew its stake in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock worth $36,000 after buying an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new stake in Apple during the second quarter worth about $42,000. Christopher J. Hasenberg Inc grew its stake in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock worth $69,000 after buying an additional 144 shares in the last quarter. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple in the 3rd quarter valued at approximately $77,000. Finally, ARK Investment Management LLC acquired a new stake in shares of Apple in the 3rd quarter valued at approximately $110,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Apple from $280.00 to $294.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Raymond James raised their price target on shares of Apple to $250.00 and gave the company a "buy" rating in a research note on Monday, January 20th. Bank of America raised their price target on shares of Apple from $253.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, January 31st. TD Cowen restated a "buy" rating on shares of Apple in a research note on Tuesday, January 28th. Finally, StockNews.com downgraded shares of Apple from a "buy" rating to a "hold" rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $242.52.

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Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company's stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now directly 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 insiders.

Apple Trading Up 1.3 %

Shares of AAPL stock traded up $3.07 during trading hours on Friday, hitting $244.60. 40,828,061 shares of the company were exchanged, compared to its average volume of 58,424,872. The firm has a market cap of $3.67 trillion, a P/E ratio of 38.83, a P/E/G ratio of 2.32 and a beta of 1.20. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company has a 50 day simple moving average of $240.70 and a two-hundred day simple moving average of $231.68.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping 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%. Equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors 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 of this dividend was Monday, February 10th. Apple's payout ratio is currently 15.87%.

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.