FineMark National Bank & Trust lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 576,490 shares of the iPhone maker's stock after selling 7,404 shares during the period. Apple makes up approximately 5.0% of FineMark National Bank & Trust's portfolio, making the stock its 3rd biggest holding. FineMark National Bank & Trust's holdings in Apple were worth $144,365,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Vinva Investment Management Ltd increased its stake in shares of Apple by 12.4% during the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock worth $192,700,000 after purchasing an additional 83,997 shares during the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in Apple in the 3rd quarter worth about $4,972,000. SYM FINANCIAL Corp increased its holdings in Apple by 6.3% in the 3rd quarter. SYM FINANCIAL Corp now owns 28,626 shares of the iPhone maker's stock worth $6,670,000 after acquiring an additional 1,695 shares during the last quarter. Tradewinds Capital Management LLC raised its stake in Apple by 9.2% in the 4th quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock valued at $5,308,000 after acquiring an additional 1,779 shares during the period. Finally, Berkshire Bank lifted its holdings in Apple by 2.7% during the fourth quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock valued at $22,433,000 after purchasing an additional 2,360 shares during the last quarter. 67.73% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
AAPL has been the subject of a number of analyst reports. UBS Group reaffirmed a "buy" rating on shares of Apple in a report on Sunday. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Maxim Group raised their target price on Apple to $215.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. Needham & Company LLC reiterated a "hold" rating and set a $225.00 price target on shares of Apple in a research report on Wednesday. Finally, TD Cowen cut their price objective on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.80.
Check Out Our Latest Report on AAPL
Insider Buying and Selling
In other news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was 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 $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock worth $42,694,080 in the last ninety days. 0.06% of the stock is owned by insiders.
Apple Trading Down 1.1%
Shares of AAPL stock traded down $2.19 on Thursday, hitting $200.63. 55,012,072 shares of the company's stock traded hands, compared to its average volume of 58,125,285. The stock has a market capitalization of $3.00 trillion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 2.44 and a beta of 1.27. The company's fifty day simple moving average is $201.99 and its 200 day simple moving average is $224.54. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company's revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.53 earnings per share. Equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.52%. Apple's dividend payout ratio is currently 16.20%.
Apple announced that its Board of Directors has authorized a share buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.
Apple Profile
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Free Report)
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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