Apple Inc. (NASDAQ:AAPL) Position Decreased by American National Bank & Trust

American National Bank & Trust lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,939 shares of the iPhone maker's stock after selling 3,179 shares during the quarter. Apple comprises approximately 4.7% of American National Bank & Trust's investment portfolio, making the stock its largest holding. American National Bank & Trust's holdings in Apple were worth $42,413,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Drystone LLC purchased a new position in Apple during the 4th quarter worth approximately $25,000. Life Planning Partners Inc acquired a new stake in Apple during the 4th quarter worth $47,000. Conquis Financial LLC acquired a new stake in Apple during the 4th quarter worth $63,000. LSV Asset Management acquired a new stake in Apple during the 4th quarter worth $65,000. Finally, Pillar Financial Advisors LLC acquired a new stake in Apple during the 4th quarter worth $82,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Up 0.0%

NASDAQ AAPL traded up $0.08 during trading hours on Friday, reaching $201.08. The company had a trading volume of 73,093,456 shares, compared to its average volume of 53,360,608. The stock has a 50-day moving average of $202.61 and a 200 day moving average of $220.03. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $3.00 trillion, a P/E ratio of 31.32, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 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 analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. Apple's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.53 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its board has authorized a share buyback 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 purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Apple's dividend payout ratio is 16.20%.

Insiders Place Their Bets

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the business's 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 in the company, valued at $941,214. This represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now owns 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 over the last three months. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

AAPL has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Tuesday, June 10th. Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. TD Cowen lowered their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $234.39.

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.