Heartland Bank & Trust Co trimmed its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,274 shares of the iPhone maker’s stock after selling 4,023 shares during the quarter. Apple makes up approximately 8.1% of Heartland Bank & Trust Co’s portfolio, making the stock its largest position. Heartland Bank & Trust Co’s holdings in Apple were worth $10,334,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. 25 LLC boosted its holdings in shares of Apple by 0.7% during the second quarter. 25 LLC now owns 13,083 shares of the iPhone maker’s stock worth $2,493,000 after purchasing an additional 86 shares during the period. Northside Capital Management LLC lifted its stake in Apple by 1.5% in the second quarter. Northside Capital Management LLC now owns 59,806 shares of the iPhone maker’s stock valued at $11,601,000 after acquiring an additional 881 shares during the last quarter. Golden State Equity Partners lifted its stake in Apple by 232.6% in the second quarter. Golden State Equity Partners now owns 119,096 shares of the iPhone maker’s stock valued at $23,101,000 after acquiring an additional 83,284 shares during the last quarter. Range Financial Group LLC lifted its stake in Apple by 20.7% in the second quarter. Range Financial Group LLC now owns 5,396 shares of the iPhone maker’s stock valued at $1,047,000 after acquiring an additional 925 shares during the last quarter. Finally, Tandem Investment Advisors Inc. lifted its stake in Apple by 23.2% in the second quarter. Tandem Investment Advisors Inc. now owns 12,670 shares of the iPhone maker’s stock valued at $2,457,000 after acquiring an additional 2,384 shares during the last quarter. 58.51% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on AAPL shares. UBS Group reissued a “neutral” rating and issued a $190.00 price target on shares of Apple in a research report on Wednesday, September 27th. Sanford C. Bernstein reissued a “market perform” rating and issued a $195.00 price target on shares of Apple in a research report on Monday, October 9th. Tigress Financial boosted their target price on shares of Apple from $210.00 to $225.00 in a research report on Friday, June 23rd. Rosenblatt Securities reaffirmed a “neutral” rating and set a $198.00 target price on shares of Apple in a research report on Tuesday, September 12th. Finally, Wells Fargo & Company boosted their target price on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Nine analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.54.
Apple Stock Performance
NASDAQ:AAPL opened at $178.85 on Friday. The stock’s 50-day simple moving average is $178.04 and its 200 day simple moving average is $178.32. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23. The firm has a market capitalization of $2.80 trillion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 2.40 and a beta of 1.28. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The firm had revenue of $81.80 billion for the quarter, compared to analyst estimates of $81.79 billion. During the same period last year, the firm posted $1.20 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts anticipate that Apple Inc. will post 6.05 EPS for the current fiscal year.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.54%. The ex-dividend date was Friday, August 11th. Apple’s payout ratio is presently 16.13%.
Insider Activity at Apple
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 value of $2,753,216.64. Following the transaction, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Apple 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 $565,809,142.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Deirdre O’brien sold 15,419 shares of the company’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 value of $2,753,216.64. Following the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at $24,363,619.20. The disclosure for this sale can be found here. Insiders have sold 455,004 shares of company stock worth $79,238,767 over the last ninety days. Insiders own 0.06% of the company’s stock.
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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