Apple Inc. (NASDAQ:AAPL) is Park National Corp OH's 2nd Largest Position

Park National Corp OH reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 488,285 shares of the iPhone maker's stock after selling 13,908 shares during the quarter. Apple makes up 4.0% of Park National Corp OH's holdings, making the stock its 2nd largest position. Park National Corp OH's holdings in Apple were worth $108,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Advanced Portfolio Management LLC lifted its position in shares of Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after acquiring an additional 47 shares in the last quarter. Hanseatic Management Services Inc. lifted its position in shares of Apple by 1.3% in the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after acquiring an additional 48 shares in the last quarter. Family Capital Management Inc. lifted its position in shares of Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after acquiring an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of Apple by 0.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after acquiring an additional 48 shares in the last quarter. Finally, Scarborough Advisors LLC lifted its position in shares of Apple by 0.3% in the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock valued at $3,992,000 after acquiring an additional 51 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock valued at $42,694,080 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AAPL shares. DA Davidson increased their price target on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Barclays dropped their price objective on Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Wedbush reaffirmed an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research note on Tuesday, June 10th. Tigress Financial lifted their target price on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a report on Thursday, April 3rd. Finally, Loop Capital decreased their target price on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $234.86.

Apple Stock Performance

NASDAQ AAPL opened at $201.50 on Tuesday. 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 business's 50 day moving average is $202.33 and its two-hundred day moving average is $221.12. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock has a market capitalization of $3.01 trillion, a price-to-earnings ratio of 31.39, a PEG ratio of 2.24 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. The firm's quarterly revenue was up 5.1% on a year-over-year basis. Research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its board has initiated a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Apple Increases Dividend

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

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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