Apple Inc. $AAPL is Park National Corp OH's 7th Largest Position

Key Points

• Park National Corp OH has reduced its holdings in Apple Inc. by 1.9%, making it the 7th largest position in their portfolio with a total valuation of $98.2 million.
• Several institutional investors, including Vanguard Group and UBS AM, have increased their stakes in Apple, which is now owned >67% by institutional investors.
• Apple reported a quarterly earnings per share (EPS) of $1.57, significantly surpassing analysts' expectations and showing a 9.6% increase in revenue year over year.

Park National Corp OH decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 478,791 shares of the iPhone maker's stock after selling 9,494 shares during the quarter. Apple accounts for approximately 3.2% of Park National Corp OH's holdings, making the stock its 7th biggest holding. Park National Corp OH's holdings in Apple were worth $98,234,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Burkett Financial Services LLC increased its stake in shares of Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock valued at $3,199,000 after acquiring an additional 93 shares during the last quarter. Avid Wealth Partners LLC increased its stake in Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after purchasing an additional 930 shares in the last quarter. Bell & Brown Wealth Advisors LLC grew its stake in shares of Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock worth $13,772,000 after acquiring an additional 240 shares in the last quarter. OneAscent Wealth Management LLC grew its stake in shares of Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after acquiring an additional 409 shares in the last quarter. Finally, Andina Capital Management LLC grew its stake in shares of Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker's stock worth $1,507,000 after acquiring an additional 4,591 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the firm'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 in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

NASDAQ AAPL traded up $7.62 during trading on Friday, reaching $245.50. The company's stock had a trading volume of 163,435,991 shares, compared to its average volume of 47,568,860. The stock has a market capitalization of $3.64 trillion, a PE ratio of 37.25, a P/E/G ratio of 2.47 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a fifty day moving average of $224.35 and a 200 day moving average of $212.42. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The business 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 company's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.40 EPS. Analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio (DPR) is presently 15.78%.

Analyst Ratings Changes

AAPL has been the subject of several recent analyst reports. Citigroup reissued a "buy" rating on shares of Apple in a report on Wednesday, September 10th. Wedbush reaffirmed an "outperform" rating and set a $270.00 price target on shares of Apple in a report on Tuesday, September 9th. Sanford C. Bernstein began coverage on Apple in a research report on Monday. They issued an "outperform" rating and a $290.00 target price on the stock. Morgan Stanley set a $240.00 price target on Apple and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Finally, DA Davidson reissued a "neutral" rating and set a $250.00 price target on shares of Apple in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $242.74.

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.