First American Bank Has $164.45 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

First American Bank lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 656,685 shares of the iPhone maker's stock after selling 6,976 shares during the period. Apple accounts for about 11.6% of First American Bank's holdings, making the stock its biggest position. First American Bank's holdings in Apple were worth $164,447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Drystone LLC purchased a new stake in shares of Apple during the 4th quarter valued at $25,000. SPX Gestao de Recursos Ltda purchased a new stake in Apple during the third quarter valued at about $71,000. Teachers Insurance & Annuity Association of America bought a new stake in Apple during the third quarter worth about $77,000. Compass Planning Associates Inc purchased a new position in shares of Apple in the 4th quarter worth about $96,000. Finally, ARK Investment Management LLC bought a new position in shares of Apple during the 3rd quarter valued at about $110,000. Institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the transaction, the senior vice president now directly owns 179,158 shares of the company's stock, valued at $40,072,269.86. This trade represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 187,021 shares of company stock valued at $41,760,140. Insiders own 0.06% of the company's stock.

Apple Stock Up 0.5 %

Shares of Apple stock traded up $1.04 during trading on Friday, hitting $198.53. The company's stock had a trading volume of 36,406,804 shares, compared to its average volume of 56,072,498. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company has a fifty day simple moving average of $208.09 and a two-hundred day simple moving average of $227.38. The company has a market capitalization of $2.98 trillion, a PE ratio of 31.51, a P/E/G ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business's revenue was up 5.1% on a year-over-year basis. During the same period last year, the business earned $1.53 earnings per share. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its board has approved a share buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 12th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.52%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date is Monday, May 12th. Apple's payout ratio is 16.20%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Scotiabank lowered Apple to a "market perform" rating in a research note on Friday, May 2nd. Redburn Partners set a $230.00 target price on shares of Apple in a report on Friday, January 31st. Citigroup reissued a "cautious" rating on shares of Apple in a research note on Monday, May 5th. Jefferies Financial Group restated an "underperform" rating and set a $170.62 price target (up from $167.88) on shares of Apple in a research report on Friday, May 2nd. Finally, Barclays lowered their target price on Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $235.80.

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.