Apple Inc. (NASDAQ:AAPL) Stock Holdings Lessened by Cape ANN Savings Bank

Cape ANN Savings Bank reduced its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,439 shares of the iPhone maker's stock after selling 1,416 shares during the quarter. Apple comprises 5.2% of Cape ANN Savings Bank's holdings, making the stock its 4th largest holding. Cape ANN Savings Bank's holdings in Apple were worth $8,875,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Midwest Capital Advisors LLC acquired a new stake in Apple in the fourth quarter worth $151,000. Cherry Tree Wealth Management LLC boosted its position in shares of Apple by 1.8% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 14,239 shares of the iPhone maker's stock worth $3,566,000 after purchasing an additional 255 shares in the last quarter. Colonial River Investments LLC grew its stake in shares of Apple by 20.1% in the 4th quarter. Colonial River Investments LLC now owns 53,948 shares of the iPhone maker's stock valued at $13,510,000 after buying an additional 9,047 shares during the period. Partners Wealth Management LLC bought a new stake in Apple in the 4th quarter valued at about $6,444,000. Finally, Black Diamond Financial LLC increased its position in Apple by 14.6% in the 4th quarter. Black Diamond Financial LLC now owns 34,318 shares of the iPhone maker's stock valued at $8,594,000 after buying an additional 4,362 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. UBS Group decreased their price objective on Apple from $236.00 to $210.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Scotiabank lowered shares of Apple to a "market perform" rating in a research note on Friday. TD Cowen reduced their price objective on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday. Finally, Raymond James dropped their price target on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $233.25.

Insider Activity

In related news, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the sale, the senior vice president now directly owns 179,158 shares of the company's stock, valued at approximately $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. In the last 90 days, insiders have sold 187,021 shares of company stock worth $41,760,140. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 3.7 %

Apple stock traded down $7.97 during midday trading on Friday, reaching $205.35. 100,891,435 shares of the stock traded hands, compared to its average volume of 56,620,753. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a market cap of $3.08 trillion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The company has a 50-day simple moving average of $212.15 and a two-hundred day simple moving average of $228.63. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

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

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 12th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is presently 15.87%.

Apple declared that its board has initiated a share repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

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.