Indiana Trust & Investment Management CO cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,339 shares of the iPhone maker's stock after selling 1,912 shares during the period. Apple accounts for about 5.1% of Indiana Trust & Investment Management CO's holdings, making the stock its 4th biggest position. Indiana Trust & Investment Management CO's holdings in Apple were worth $13,762,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Norges Bank purchased a new stake in shares of Apple during the fourth quarter worth approximately $33,912,466,000. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 18,067,216 shares in the last quarter. Swedbank AB purchased a new position in shares of Apple during the 1st quarter worth approximately $3,026,492,000. Global Assets Advisory LLC lifted its holdings in shares of Apple by 23,076.4% in the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker's stock valued at $1,584,512,000 after buying an additional 9,200,345 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Apple by 158.3% in the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker's stock valued at $1,977,582,000 after buying an additional 7,067,379 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Apple
In related news, SVP Katherine L. Adams sold 100,000 shares of the company's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company's stock, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the SEC, 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 dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares of the company's stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock valued at $23,723,887 over the last 90 days. Corporate insiders own 0.06% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on AAPL shares. StockNews.com raised Apple from a "hold" rating to a "buy" rating in a report on Wednesday, August 7th. UBS Group reiterated a "neutral" rating and issued a $190.00 price objective on shares of Apple in a research note on Monday, July 1st. Needham & Company LLC restated a "buy" rating and set a $260.00 target price on shares of Apple in a research report on Monday, August 5th. DA Davidson raised shares of Apple from a "neutral" rating to a "buy" rating and increased their target price for the company from $200.00 to $230.00 in a report on Tuesday, June 11th. Finally, Piper Sandler Companies reissued a "neutral" rating and set a $225.00 price target (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.30.
Check Out Our Latest Stock Analysis on AAPL
Apple Trading Down 0.3 %
Shares of AAPL traded down $0.79 during mid-day trading on Friday, reaching $229.00. The company had a trading volume of 52,962,850 shares, compared to its average volume of 61,696,090. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The firm has a fifty day simple moving average of $221.45 and a 200-day simple moving average of $195.48. The stock has a market cap of $3.51 trillion, a price-to-earnings ratio of 35.61, a price-to-earnings-growth 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 (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.06. Apple had a return on equity of 145.35% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the previous year, the business earned $1.26 earnings per share. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 6.61 EPS for the current fiscal year.
Apple announced that its board has authorized a share buyback plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.
Apple Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple's dividend payout ratio is currently 15.55%.
About Apple
(
Free Report)
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.
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