Idaho Trust Bank Lowers Holdings in Apple Inc. (NASDAQ:AAPL)

Idaho Trust Bank trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 92.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,732 shares of the iPhone maker's stock after selling 32,989 shares during the quarter. Idaho Trust Bank's holdings in Apple were worth $575,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AAPL. Swedbank AB bought a new position in Apple in the 1st quarter valued at $3,026,492,000. Strategic Financial Concepts LLC lifted its position in shares of Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker's stock valued at $1,603,000 after buying an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Apple by 158.3% during the 1st 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 during the last quarter. Lazard Asset Management LLC lifted its position in shares of Apple by 161.2% during the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker's stock valued at $1,502,068,000 after buying an additional 5,405,542 shares during the last quarter. Finally, Natixis lifted its position in shares of Apple by 127.7% during the 1st quarter. Natixis now owns 4,632,987 shares of the iPhone maker's stock valued at $794,465,000 after buying an additional 2,598,742 shares during the last quarter. Institutional investors own 60.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AAPL. Evercore ISI reaffirmed a "buy" rating and set a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Piper Sandler reaffirmed a "neutral" rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Tigress Financial upped their price target on Apple from $245.00 to $295.00 and gave the company a "strong-buy" rating in a research report on Wednesday, August 28th. Robert W. Baird upped their price target on Apple from $200.00 to $240.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Finally, Morgan Stanley reissued an "overweight" rating and set a $273.00 price objective on shares of Apple in a report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $235.91.

Apple Trading Down 1.5 %

AAPL traded down $3.57 on Wednesday, hitting $230.10. 46,954,040 shares of the company were exchanged, compared to its average volume of 59,347,066. The firm has a fifty day simple moving average of $227.23 and a two-hundred day simple moving average of $211.59. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The stock has a market capitalization of $3.53 trillion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.40 and a beta 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, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same period last year, the company earned $1.26 EPS. Apple's revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given 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 0.43%. Apple's payout ratio is 15.55%.

Insider Buying and Selling

In other news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock worth $114,786,399 in the last ninety days. 0.06% of the stock is owned by insiders.

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.