1ST Source Bank Has $35.53 Million Position in Apple Inc. $AAPL

1ST Source Bank decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 159,964 shares of the iPhone maker's stock after selling 2,549 shares during the quarter. Apple accounts for about 2.1% of 1ST Source Bank's portfolio, making the stock its 8th largest position. 1ST Source Bank's holdings in Apple were worth $35,533,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Conquis Financial LLC acquired a new position in Apple in the fourth quarter valued at about $63,000. LSV Asset Management acquired a new stake in shares of Apple during the fourth quarter worth about $65,000. Elite Financial Inc. acquired a new stake in shares of Apple during the first quarter worth about $58,000. Pillar Financial Advisors LLC acquired a new stake in shares of Apple during the fourth quarter worth about $82,000. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of Apple during the fourth quarter worth about $147,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. DA Davidson reaffirmed a "buy" rating and set a $250.00 price target on shares of Apple in a research report on Friday, August 1st. Jefferies Financial Group raised Apple from an "underperform" rating to a "hold" rating in a research report on Friday, July 18th. Morgan Stanley set a $240.00 target price on Apple and gave the company an "overweight" rating in a research report on Wednesday. Finally, Wedbush reissued an "outperform" rating and issued a $270.00 target price on shares of Apple in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $239.05.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

Apple Stock Down 0.3%

Shares of NASDAQ:AAPL traded down $0.67 during trading on Thursday, hitting $237.81. 23,367,216 shares of the company were exchanged, compared to its average volume of 56,619,613. The stock has a market cap of $3.53 trillion, a price-to-earnings ratio of 36.11, a P/E/G ratio of 2.42 and a beta of 1.11. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The firm has a fifty day moving average price of $217.73 and a two-hundred day moving average price of $212.92. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 EPS. As a group, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple's payout ratio is presently 15.78%.

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.