Heartland Bank & Trust Co Has $8.01 Million Position in Apple Inc. (NASDAQ:AAPL)

Heartland Bank & Trust Co trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,732 shares of the iPhone maker's stock after selling 3,210 shares during the quarter. Apple accounts for approximately 4.7% of Heartland Bank & Trust Co's holdings, making the stock its 4th largest position. Heartland Bank & Trust Co's holdings in Apple were worth $8,014,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AAPL. Yeomans Consulting Group Inc. purchased a new stake in Apple in the fourth quarter worth about $1,713,000. Raleigh Capital Management Inc. raised its holdings in Apple by 11.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker's stock valued at $2,986,000 after buying an additional 1,643 shares during the period. GLOBALT Investments LLC GA bought a new stake in shares of Apple during the 4th quarter worth approximately $38,406,000. Barden Capital Management Inc. grew its holdings in shares of Apple by 132.8% in the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker's stock worth $6,283,000 after purchasing an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC purchased a new position in shares of Apple during the fourth quarter worth approximately $4,782,000. Institutional investors own 60.41% of the company's stock.

Apple Trading Down 0.8 %

NASDAQ:AAPL traded down $1.87 on Thursday, hitting $224.53. The stock had a trading volume of 43,666,213 shares, compared to its average volume of 62,449,250. The company has a fifty day moving average price of $220.03 and a two-hundred day moving average price of $194.13. The stock has a market cap of $3.44 trillion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.60 and a beta of 1.24. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 145.35% and a net margin of 26.44%. The company had revenue of $85.78 billion during the quarter, compared to analysts' expectations of $84.43 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 6.61 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple's dividend payout ratio is presently 15.55%.

Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AAPL. Bank of America restated a "buy" rating and set a $230.00 price target on shares of Apple in a research note on Tuesday, July 9th. Melius Research increased their price objective on shares of Apple from $227.00 to $260.00 and gave the company a "buy" rating in a research note on Monday, June 24th. Needham & Company LLC restated a "buy" rating and set a $260.00 target price on shares of Apple in a report on Monday, August 5th. Citigroup upped their price objective on Apple from $210.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Finally, Evercore ISI reissued a "buy" rating and set a $250.00 price target on shares of Apple in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.63.

Insider Activity

In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 188,884 shares of company stock valued at $38,092,387. Company insiders own 0.06% of the company's stock.

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.