Apple Inc. $AAPL Stock Holdings Reduced by Glenview Trust co

Key Points

• Glenview Trust Co recently reduced its Apple Inc. holdings by 1.3%, retaining 1,057,456 shares, which constitute approximately 4.6% of its portfolio, making Apple its second-largest position.
• Apple's stock boasts a current market capitalization of $3.47 trillion and has an average price target of $240.80 from analysts, with a consensus rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.26 per share, which provides investors with a yield of 0.4% and reflects a 15.78% dividend payout ratio.

Glenview Trust co lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,057,456 shares of the iPhone maker's stock after selling 14,212 shares during the period. Apple makes up approximately 4.6% of Glenview Trust co's portfolio, making the stock its 2nd largest position. Glenview Trust co's holdings in Apple were worth $234,893,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. SageView Advisory Group LLC raised its holdings in shares of Apple by 2.1% in the 1st quarter. SageView Advisory Group LLC now owns 188,051 shares of the iPhone maker's stock valued at $41,772,000 after purchasing an additional 3,915 shares in the last quarter. Advisory Alpha LLC raised its holdings in shares of Apple by 9.2% in the 1st quarter. Advisory Alpha LLC now owns 129,951 shares of the iPhone maker's stock valued at $28,866,000 after purchasing an additional 10,968 shares in the last quarter. Trinity Financial Advisors LLC raised its holdings in shares of Apple by 1.8% in the 1st quarter. Trinity Financial Advisors LLC now owns 29,001 shares of the iPhone maker's stock valued at $5,893,000 after purchasing an additional 524 shares in the last quarter. Oriental Harbor Investment Fund raised its holdings in shares of Apple by 37.5% in the 1st quarter. Oriental Harbor Investment Fund now owns 516,801 shares of the iPhone maker's stock valued at $114,797,000 after purchasing an additional 141,045 shares in the last quarter. Finally, Alaethes Wealth LLC raised its holdings in shares of Apple by 3.6% in the 1st quarter. Alaethes Wealth LLC now owns 58,823 shares of the iPhone maker's stock valued at $13,066,000 after purchasing an additional 2,065 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AAPL shares. Monness Crespi & Hardt lifted their price target on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Rosenblatt Securities lifted their price target on shares of Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a research note on Wednesday. DA Davidson reiterated a "neutral" rating and set a $250.00 price target on shares of Apple in a research note on Thursday. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research note on Friday, July 25th. Finally, Morgan Stanley set a $240.00 price target on shares of Apple and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average target price of $240.80.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of NASDAQ:AAPL traded up $4.04 during midday trading on Friday, hitting $234.07. The stock had a trading volume of 55,768,555 shares, compared to its average volume of 45,223,864. The company has a market capitalization of $3.47 trillion, a PE ratio of 35.52, a P/E/G ratio of 2.39 and a beta of 1.11. The stock has a 50 day moving average price of $221.50 and a two-hundred day moving average price of $212.20. 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 Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

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

Apple Announces Dividend

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

Apple 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.