Apple Inc. (NASDAQ:AAPL) is Zions Bancorporation N.A.'s 9th Largest Position

Zions Bancorporation N.A. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 13.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,795 shares of the iPhone maker's stock after purchasing an additional 14,165 shares during the period. Apple comprises approximately 1.9% of Zions Bancorporation N.A.'s holdings, making the stock its 9th largest holding. Zions Bancorporation N.A.'s holdings in Apple were worth $30,249,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC lifted its position in shares of Apple by 8.8% in the 4th quarter. Ashton Thomas Securities LLC now owns 38,193 shares of the iPhone maker's stock worth $9,562,000 after purchasing an additional 3,084 shares during the period. TD Asset Management Inc. increased its position in shares of Apple by 3.5% during the fourth quarter. TD Asset Management Inc. now owns 18,504,403 shares of the iPhone maker's stock valued at $4,633,873,000 after buying an additional 629,536 shares during the period. EFG Asset Management North America Corp. raised its stake in Apple by 13.2% in the fourth quarter. EFG Asset Management North America Corp. now owns 88,774 shares of the iPhone maker's stock worth $22,231,000 after buying an additional 10,362 shares in the last quarter. Prospect Financial Group LLC purchased a new stake in Apple in the fourth quarter worth about $2,085,000. Finally, Modern Wealth Management LLC boosted its position in Apple by 197.3% during the 4th quarter. Modern Wealth Management LLC now owns 317,543 shares of the iPhone maker's stock valued at $79,519,000 after acquiring an additional 210,735 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider now owns 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer now owns 4,569 shares of the company's stock, valued at $941,214. This represents a 50.01% 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 90 days. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

Shares of AAPL stock traded up $3.14 on Friday, hitting $203.77. 23,305,778 shares of the stock traded hands, compared to its average volume of 55,992,980. The firm has a market cap of $3.04 trillion, a price-to-earnings ratio of 32.35, a PEG ratio of 2.44 and a beta of 1.22. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $201.56 and a two-hundred day simple moving average of $224.35. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 last year, the firm posted $1.53 EPS. As a group, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Monday, May 12th. Apple's payout ratio is currently 16.20%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AAPL shares. Maxim Group lifted their price target on Apple to $215.00 and gave the company a "hold" rating in a research report on Friday, February 21st. UBS Group reiterated a "buy" rating on shares of Apple in a research note on Sunday. Barclays dropped their price objective on shares of Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Raymond James lowered their target price on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, China Renaissance started coverage on Apple in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $235.02.

About Apple

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.