Bath Savings Trust Co cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 279,026 shares of the iPhone maker's stock after selling 6,121 shares during the quarter. Apple makes up approximately 6.4% of Bath Savings Trust Co's investment portfolio, making the stock its largest position. Bath Savings Trust Co's holdings in Apple were worth $61,980,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of AAPL. Advanced Portfolio Management LLC increased its holdings in shares of Apple by 0.3% in the 4th 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 during the last quarter. Hanseatic Management Services Inc. increased its holdings in shares of Apple by 1.3% in the 4th 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 during the last quarter. Family Capital Management Inc. increased its holdings in shares of Apple by 0.3% in the 4th 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 during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Apple by 0.3% in the 4th 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 during the last quarter. Finally, Scarborough Advisors LLC increased its holdings in shares of Apple by 0.3% in the 4th 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 during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. The trade was a 8.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction 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 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,507 shares of company stock valued at $42,694,080. Insiders own 0.06% of the company's stock.
Wall Street Analyst Weigh In
AAPL has been the topic of a number of recent analyst reports. Jefferies Financial Group reiterated an "underperform" rating and issued a $170.62 price objective (up previously from $167.88) on shares of Apple in a report on Friday, May 2nd. Monness Crespi & Hardt raised their price target on Apple to $245.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Tigress Financial raised their price target on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research note on Thursday, April 3rd. Morgan Stanley restated an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Finally, Bank of America restated a "buy" rating and set a $235.00 price target on shares of Apple in a research note on Tuesday, June 10th. Three 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.86.
View Our Latest Stock Analysis on Apple
Apple Price Performance
Shares of NASDAQ AAPL opened at $200.30 on Wednesday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The business has a 50 day moving average price of $202.29 and a two-hundred day moving average price of $220.98. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The firm has a market cap of $2.99 trillion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 2.25 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 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $94.04 billion. During the same quarter last year, the business posted $1.53 EPS. Apple's quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts expect 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 repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors 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. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Apple's dividend payout ratio (DPR) is 16.20%.
Apple Company 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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