Community Bank & Trust Waco Texas cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 210,630 shares of the iPhone maker's stock after selling 1,593 shares during the quarter. Apple makes up approximately 9.8% of Community Bank & Trust Waco Texas' holdings, making the stock its largest holding. Community Bank & Trust Waco Texas' holdings in Apple were worth $43,215,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Burkett Financial Services LLC increased its holdings 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 holdings in shares of Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after acquiring an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC increased its holdings in shares of Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock valued at $13,772,000 after acquiring an additional 240 shares during the last quarter. American National Bank & Trust increased its holdings in shares of Apple by 2.4% in the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker's stock valued at $40,107,000 after acquiring an additional 4,543 shares during the last quarter. Finally, Andina Capital Management LLC increased its holdings in shares of Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker's stock valued at $1,507,000 after acquiring an additional 4,591 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Apple news, 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 transaction, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the business's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 259,121 shares of company stock worth $65,358,981. Insiders own 0.06% of the company's stock.
Apple Trading Up 2.0%
Shares of AAPL stock opened at $252.29 on Monday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The stock has a fifty day moving average of $241.13 and a two-hundred day moving average of $216.91. The firm has a market capitalization of $3.74 trillion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The firm's quarterly revenue was up 9.6% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 7.28 EPS for the current year.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is 15.78%.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on AAPL. Raymond James Financial reiterated an "outperform" rating and issued a $240.00 price target (up from $230.00) on shares of Apple in a report on Friday, August 1st. CLSA upgraded Apple to a "strong-buy" rating in a research report on Sunday, October 5th. Barclays boosted their price objective on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Loop Capital reduced their price objective on Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research report on Thursday, August 21st. Finally, Seaport Res Ptn upgraded Apple to a "strong-buy" rating in a research report on Wednesday, October 1st. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $248.29.
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Apple Profile
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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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