Apple Inc. $AAPL is First American Bank's Largest Position

Key Points

• First American Bank is the largest holder of Apple Inc. shares, owning 651,076 shares, which constitute about 9.2% of its total holdings valued at approximately $133.6 million.
• Apple Inc. reported earnings of $1.57 per share for the last quarter, exceeding analyst expectations, while its revenue rose by 9.6% year-over-year to $94.04 billion.
• The company recently declared a quarterly dividend of $0.26 per share, resulting in an annualized dividend of $1.04 and a yield of 0.4%.

First American Bank trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 651,076 shares of the iPhone maker's stock after selling 1,190 shares during the quarter. Apple comprises about 9.2% of First American Bank's holdings, making the stock its biggest holding. First American Bank's holdings in Apple were worth $133,581,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC raised its holdings in Apple by 3.7% in the second quarter. ORG Partners LLC now owns 40,122 shares of the iPhone maker's stock worth $8,331,000 after buying an additional 1,420 shares during the last quarter. Rainier Family Wealth Inc. increased its position in shares of Apple by 1.6% during the second quarter. Rainier Family Wealth Inc. now owns 15,406 shares of the iPhone maker's stock valued at $3,161,000 after acquiring an additional 238 shares in the last quarter. Rezny Wealth Management Inc. increased its position in shares of Apple by 3.8% during the second quarter. Rezny Wealth Management Inc. now owns 9,677 shares of the iPhone maker's stock valued at $1,985,000 after acquiring an additional 352 shares in the last quarter. Kendall Capital Management raised its holdings in Apple by 7.4% in the 2nd quarter. Kendall Capital Management now owns 21,728 shares of the iPhone maker's stock worth $4,458,000 after acquiring an additional 1,505 shares during the last quarter. Finally, Vestia Personal Wealth Advisors lifted its position in Apple by 0.6% in the 2nd quarter. Vestia Personal Wealth Advisors now owns 9,284 shares of the iPhone maker's stock valued at $1,905,000 after acquiring an additional 54 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Down 3.5%

NASDAQ AAPL opened at $245.27 on Friday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.64 trillion, a PE ratio of 37.22, a P/E/G ratio of 2.39 and a beta of 1.09. The stock's 50 day moving average is $237.61 and its 200 day moving average is $215.88.

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

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AAPL shares. Sanford C. Bernstein assumed coverage on Apple in a research report on Monday, September 15th. They set an "outperform" rating and a $290.00 price objective on the stock. Evercore ISI set a $290.00 price target on shares of Apple and gave the company an "outperform" rating in a report on Friday, September 26th. CLSA upgraded shares of Apple to a "strong-buy" rating in a research note on Sunday, October 5th. Loop Capital decreased their price objective on shares of Apple from $230.00 to $226.00 and set a "hold" rating for the company in a report on Thursday, August 21st. Finally, Citigroup restated a "buy" rating on shares of Apple in a research report on Wednesday, September 10th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $248.29.

Insider Activity

In related news, SVP Katherine L. Adams sold 47,125 shares of the firm's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares of the company's stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the business's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,922 shares of company stock worth $64,320,190. 0.06% of the stock is currently owned by insiders.

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.

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