Trust Co. of Toledo NA OH Has $46.72 Million Position in Apple Inc. (NASDAQ:AAPL)

Trust Co. of Toledo NA OH increased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,833 shares of the iPhone maker's stock after purchasing an additional 9,868 shares during the period. Apple makes up approximately 6.8% of Trust Co. of Toledo NA OH's investment portfolio, making the stock its 2nd largest holding. Trust Co. of Toledo NA OH's holdings in Apple were worth $46,722,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker's stock valued at $253,766,929,000 after buying an additional 18,067,216 shares in the last quarter. Norges Bank acquired a new stake in shares of Apple during the fourth quarter worth about $33,912,466,000. Wellington Management Group LLP lifted its holdings in shares of Apple by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker's stock valued at $11,677,190,000 after purchasing an additional 2,096,360 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Apple by 2.0% in the 4th quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker's stock valued at $10,531,834,000 after purchasing an additional 1,067,587 shares during the period. Finally, Capital International Investors increased its stake in Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker's stock worth $6,369,852,000 after purchasing an additional 2,474,887 shares in the last quarter. Institutional investors own 60.41% of the company's stock.

Apple Price Performance

NASDAQ AAPL traded up $0.85 during trading on Tuesday, hitting $228.03. 35,874,227 shares of the company's stock were exchanged, compared to its average volume of 61,951,355. The company has a market cap of $3.50 trillion, a PE ratio of 35.46, a P/E/G ratio of 2.60 and a beta of 1.24. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The stock's 50 day moving average price is $220.53 and its two-hundred day moving average price is $194.75.

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

Apple announced that its Board of Directors has approved a share buyback plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued 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 of this dividend was Monday, August 12th. Apple's dividend payout ratio (DPR) is 15.55%.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the business's 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 transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the company's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders have sold 188,884 shares of company stock worth $38,092,387 in the last 90 days. Insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on shares of Apple from $265.00 to $275.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Maxim Group increased their target price on Apple from $195.00 to $203.00 and gave the stock a "hold" rating in a report on Friday, August 2nd. Rosenblatt Securities boosted their price target on Apple from $260.00 to $261.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Sanford C. Bernstein increased their price objective on Apple from $195.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, June 21st. Finally, Erste Group Bank raised Apple from a "hold" rating to a "buy" rating in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $234.51.

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.