Town & Country Bank & Trust CO dba First Bankers Trust CO Has $7.43 Million Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Jul 2nd, 2023

Town & Country Bank & Trust CO dba First Bankers Trust CO reduced its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,026 shares of the iPhone maker’s stock after selling 571 shares during the quarter. Apple comprises 3.7% of Town & Country Bank & Trust CO dba First Bankers Trust CO’s portfolio, making the stock its 2nd largest holding. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Apple were worth $7,425,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC lifted its position in shares of Apple by 116,483.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after acquiring an additional 569,066,184 shares during the last quarter. Norges Bank acquired a new stake in shares of Apple during the 4th quarter valued at $21,746,940,000. Morgan Stanley lifted its position in shares of Apple by 14.2% during the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after acquiring an additional 25,926,552 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after acquiring an additional 8,734,393 shares during the last quarter. Finally, AustralianSuper Pty Ltd acquired a new stake in shares of Apple during the 4th quarter valued at $1,075,599,000. 57.89% of the stock is owned by institutional investors.

Apple Stock Up 2.3 %

Shares of AAPL opened at $193.97 on Friday. The stock has a market cap of $3.05 trillion, a price-to-earnings ratio of 32.93, a P/E/G ratio of 2.53 and a beta of 1.29. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.56. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $194.48. The company has a 50-day moving average price of $177.18 and a two-hundred day moving average price of $158.18.

Apple (NASDAQ:AAPL – Free Report) last announced its quarterly earnings results on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. The firm had revenue of $94.84 billion during the quarter, compared to analysts’ expectations of $92.84 billion. Apple had a net margin of 24.49% and a return on equity of 165.72%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 earnings per share. Equities analysts predict that Apple Inc. will post 5.99 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were paid a $0.24 dividend. The ex-dividend date was Friday, May 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.49%. This is a boost from Apple’s previous quarterly dividend of $0.23. Apple’s payout ratio is 16.30%.

Apple announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 4th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

AAPL has been the subject of a number of recent research reports. UBS Group downgraded Apple from a “buy” rating to a “neutral” rating and increased their price objective for the company from $180.00 to $190.00 in a research report on Monday, June 12th. Barclays increased their target price on Apple from $145.00 to $149.00 and gave the company an “equal weight” rating in a report on Wednesday, April 26th. 51job restated a “maintains” rating on shares of Apple in a report on Friday, June 2nd. Bank of America increased their target price on Apple from $176.00 to $190.00 in a report on Monday, June 5th. Finally, Piper Sandler reduced their target price on Apple from $195.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $180.52.

Insider Activity

In other news, insider Chris Kondo sold 4,092 shares of Apple stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $173.26, for a total value of $708,979.92. Following the completion of the transaction, the insider now owns 33,946 shares in the company, valued at $5,881,483.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Timothy D. Cook sold 56,072 shares of Apple stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $165.17, for a total value of $9,261,412.24. Following the completion of the transaction, the chief executive officer now owns 3,280,052 shares in the company, valued at $541,766,188.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,092 shares of Apple stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $173.26, for a total transaction of $708,979.92. Following the completion of the transaction, the insider now owns 33,946 shares of the company’s stock, valued at approximately $5,881,483.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,799 shares of company stock worth $41,711,912. Insiders own 0.06% of the company’s stock.

Apple Company Profile

(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.