Northwest Bank & Trust Co acquired a new position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 103,163 shares of the iPhone maker’s stock, valued at approximately $20,010,000. Apple accounts for about 19.3% of Northwest Bank & Trust Co’s investment portfolio, making the stock its biggest holding.
Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Moneta Group Investment Advisors LLC increased its holdings 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 worth $74,002,245,000 after purchasing an additional 569,066,184 shares during the period. Norges Bank acquired a new stake in shares of Apple during the 4th quarter valued at about $21,746,940,000. Morgan Stanley boosted 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 in the last quarter. Berkshire Hathaway Inc boosted its position in shares of Apple by 2.3% during the 1st quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock valued at $150,975,907,000 after acquiring an additional 20,424,207 shares in the last quarter. Finally, Providence Capital Advisors LLC boosted its position in shares of Apple by 16,638.6% during the 1st quarter. Providence Capital Advisors LLC now owns 15,593,974 shares of the iPhone maker’s stock valued at $94,566,000 after acquiring an additional 15,500,812 shares in the last quarter. Institutional investors own 58.51% of the company’s stock.
Insiders Place Their Bets
In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 69,785 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $177.00, for a total value of $12,351,945.00. Following the transaction, the chief operating officer now directly owns 489,817 shares in the company, valued at approximately $86,697,609. The disclosure for this sale can be found here. Insiders have sold a total of 455,004 shares of company stock valued at $79,238,767 over the last 90 days. 0.06% of the stock is currently owned by insiders.
Apple Stock Performance
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The business had revenue of $81.80 billion for the quarter, compared to analyst estimates of $81.79 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. Apple’s revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Apple Inc. will post 6.05 earnings per share for the current fiscal year.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio (DPR) is presently 16.13%.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on AAPL shares. Rosenblatt Securities reiterated a “neutral” rating and set a $198.00 target price on shares of Apple in a research report on Tuesday, September 12th. Canaccord Genuity Group lifted their target price on shares of Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, August 4th. The Goldman Sachs Group decreased their target price on shares of Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a research report on Wednesday, September 13th. Raymond James lifted their target price on shares of Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Finally, Jefferies Financial Group decreased their target price on shares of Apple from $225.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, August 4th. Nine investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.54.
Read Our Latest 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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