Apple Inc. (NASDAQ:AAPL) Shares Sold by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,721 shares of the iPhone maker's stock after selling 1,433 shares during the period. Apple makes up about 4.8% of MidWestOne Financial Group Inc.'s holdings, making the stock its 2nd largest holding. MidWestOne Financial Group Inc.'s holdings in Apple were worth $34,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. OneAscent Wealth Management LLC grew its position in Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after acquiring an additional 409 shares during the period. Allstate Corp grew its position in Apple by 3,368.2% in the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock worth $113,062,000 after acquiring an additional 438,471 shares during the period. Vinva Investment Management Ltd grew its position in Apple by 12.4% in the fourth quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock worth $192,700,000 after acquiring an additional 83,997 shares during the period. Tradewinds Capital Management LLC grew its position in Apple by 9.2% in the fourth quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock worth $5,308,000 after acquiring an additional 1,779 shares during the period. Finally, Berkshire Bank grew its position in Apple by 2.7% in the fourth quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock worth $22,433,000 after acquiring an additional 2,360 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on AAPL shares. Tigress Financial upped 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. 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. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Tuesday, June 10th. Wedbush restated an "outperform" rating and set a $270.00 price target on shares of Apple in a research note on Tuesday, June 10th. Finally, Morgan Stanley restated an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $234.86.

Insider Buying and Selling

In other news, 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 completion of the transaction, the insider now directly owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This trade represents a 3.19% 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 valued at $42,694,080 over the last quarter. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

Shares of NASDAQ AAPL traded up $4.42 during midday trading on Friday, reaching $201.00. 95,792,149 shares of the company were exchanged, compared to its average volume of 53,610,148. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The stock has a fifty day simple moving average of $202.35 and a 200 day simple moving average of $221.56. The stock has a market cap of $3.00 trillion, a P/E ratio of 31.31, a PEG ratio of 2.24 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly 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 return on equity of 167.24% and a net margin of 24.30%. 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 company posted $1.53 earnings per share. The business's revenue was up 5.1% on a year-over-year basis. On average, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

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 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 dividend yield of 0.52%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is currently 16.20%.

Apple declared that its Board of Directors has initiated a share repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its stock is undervalued.

Apple 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.