First International Bank & Trust trimmed its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,608 shares of the iPhone maker’s stock after selling 95 shares during the quarter. Apple makes up 0.4% of First International Bank & Trust’s holdings, making the stock its 20th largest holding. First International Bank & Trust’s holdings in Apple were worth $1,282,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of AAPL. Atlantic Private Wealth LLC acquired a new position in shares of Apple in the 1st quarter worth $30,000. Summit Wealth Group LLC boosted its position in shares of Apple by 16,252.3% in the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after buying an additional 6,949,659 shares during the period. HBC Financial Services PLLC boosted its position in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Apple by 12.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,103 shares of the iPhone maker’s stock worth $143,000 after buying an additional 123 shares during the period. Finally, EMC Capital Management boosted its position in shares of Apple by 60.5% in the fourth quarter. EMC Capital Management now owns 1,327 shares of the iPhone maker’s stock worth $172,000 after buying an additional 500 shares during the period. 58.51% of the stock is currently owned by institutional investors and hedge funds.
Apple Stock Up 1.5 %
NASDAQ AAPL opened at $177.49 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63. The stock’s 50 day moving average is $179.26 and its two-hundred day moving average is $177.61. The company has a market capitalization of $2.77 trillion, a price-to-earnings ratio of 29.83, a PEG ratio of 2.33 and a beta of 1.28. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $198.23.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s payout ratio is 16.13%.
Insider Buying and Selling at Apple
In other news, CEO Timothy D. Cook sold 240,569 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the transaction, the chief executive officer now directly owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Deirdre O’brien sold 65,536 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total value of $11,279,400.96. Following the transaction, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $23,483,548.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 240,569 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the transaction, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 321,524 shares of company stock valued at $55,530,770. 0.06% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
AAPL has been the subject of several recent analyst reports. Piper Jaffray Companies raised their target price on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. Wells Fargo & Company raised their target price on Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Canaccord Genuity Group lifted their price objective on Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Jefferies Financial Group reduced their price objective on Apple from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Finally, Raymond James lifted their price objective on Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Nine investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.54.
View Our Latest Stock Report on Apple
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.
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