Apple Inc. (NASDAQ:AAPL) Shares Sold by Arvest Bank Trust Division

Arvest Bank Trust Division lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 150,446 shares of the iPhone maker's stock after selling 1,414 shares during the period. Apple makes up approximately 2.3% of Arvest Bank Trust Division's investment portfolio, making the stock its 11th largest position. Arvest Bank Trust Division's holdings in Apple were worth $37,675,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co increased its holdings in Apple by 4.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 14,315,134 shares of the iPhone maker's stock valued at $3,582,535,000 after purchasing an additional 607,687 shares during the last quarter. Ally Financial Inc. acquired a new stake in Apple in the 4th quarter valued at approximately $2,755,000. Tobias Financial Advisors Inc. boosted its position in Apple by 5.7% in the 4th quarter. Tobias Financial Advisors Inc. now owns 21,384 shares of the iPhone maker's stock valued at $5,355,000 after buying an additional 1,157 shares during the period. Canada Pension Plan Investment Board boosted its position in Apple by 28.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 15,356,490 shares of the iPhone maker's stock valued at $3,845,572,000 after buying an additional 3,407,742 shares during the period. Finally, GKV Capital Management Co. Inc. purchased a new position in Apple in the 4th quarter valued at approximately $5,175,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. This trade represents a 8.34% 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 stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent research reports. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Maxim Group boosted their target price on shares of Apple to $215.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. JPMorgan Chase & Co. lowered their target price on shares of Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, UBS Group reiterated a "buy" rating on shares of Apple in a research note on Sunday, June 1st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $234.86.

Apple Price Performance

Shares of AAPL stock traded down $2.75 during trading hours on Friday, hitting $196.45. The company's stock had a trading volume of 51,345,532 shares, compared to its average volume of 54,742,937. The business has a fifty day moving average of $201.76 and a 200-day moving average of $223.02. The stock has a market cap of $2.93 trillion, a price-to-earnings ratio of 31.18, a P/E/G ratio of 2.44 and a beta of 1.22. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter last year, the business earned $1.53 earnings per share. Apple's revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is 16.20%.

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.