Private Trust Co. NA Sells 2,632 Shares of Apple Inc. (NASDAQ:AAPL)

Private Trust Co. NA decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,338 shares of the iPhone maker's stock after selling 2,632 shares during the quarter. Apple accounts for approximately 3.5% of Private Trust Co. NA's portfolio, making the stock its largest holding. Private Trust Co. NA's holdings in Apple were worth $34,796,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Lazard Freres Gestion S.A.S. lifted its position in shares of Apple by 93.9% during the 2nd quarter. Lazard Freres Gestion S.A.S. now owns 844,925 shares of the iPhone maker's stock valued at $174,028,000 after buying an additional 409,134 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Apple by 5.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,731,445 shares of the iPhone maker's stock valued at $1,628,397,000 after buying an additional 425,973 shares in the last quarter. Lutz Financial Services LLC lifted its position in shares of Apple by 2.4% during the 2nd quarter. Lutz Financial Services LLC now owns 6,041 shares of the iPhone maker's stock valued at $1,272,000 after buying an additional 139 shares in the last quarter. FAS Wealth Partners Inc. lifted its position in shares of Apple by 5.4% during the 2nd quarter. FAS Wealth Partners Inc. now owns 140,933 shares of the iPhone maker's stock valued at $29,683,000 after buying an additional 7,223 shares in the last quarter. Finally, Blue Chip Partners LLC lifted its position in shares of Apple by 2.2% during the 2nd quarter. Blue Chip Partners LLC now owns 218,822 shares of the iPhone maker's stock valued at $46,088,000 after buying an additional 4,640 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AAPL shares. Sanford C. Bernstein increased their target price on Apple from $240.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Monness Crespi & Hardt raised their price objective on Apple to $245.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Moffett Nathanson restated a "sell" rating and issued a $188.00 price objective (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Needham & Company LLC restated a "buy" rating and issued a $260.00 price objective on shares of Apple in a report on Friday. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $262.00 price target on shares of Apple in a report on Monday, January 27th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $242.52.

Apple Price Performance

AAPL stock opened at $228.01 on Tuesday. The business has a 50 day moving average price of $241.68 and a 200 day moving average price of $230.86. The stock has a market cap of $3.43 trillion, a price-to-earnings ratio of 36.19, a PEG ratio of 2.36 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 quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities research analysts anticipate that Apple Inc. will post 7.33 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, February 10th. Apple's payout ratio is 15.87%.

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company's stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

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.

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