Trust Co. of Oklahoma lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,024 shares of the iPhone maker's stock after selling 3,211 shares during the period. Apple makes up 5.1% of Trust Co. of Oklahoma's investment portfolio, making the stock its 4th biggest holding. Trust Co. of Oklahoma's holdings in Apple were worth $14,666,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in AAPL. Drystone LLC bought a new stake in Apple in the 4th quarter worth about $25,000. Conquis Financial LLC bought a new stake in Apple in the 4th quarter worth about $63,000. LSV Asset Management bought a new stake in Apple in the 4th quarter worth about $65,000. Pillar Financial Advisors LLC bought a new stake in Apple in the 4th quarter worth about $82,000. Finally, Compass Planning Associates Inc bought a new stake in Apple in the 4th quarter worth about $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.
Insider Buying and Selling
In other news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.
Wall Street Analyst Weigh In
AAPL has been the subject of a number of research reports. Raymond James Financial reduced their target price on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Wedbush reissued an "outperform" rating and set a $270.00 target price on shares of Apple in a research report on Wednesday. Jefferies Financial Group raised shares of Apple from an "underperform" rating to a "hold" rating and increased their target price for the company from $170.62 to $188.32 in a research report on Tuesday, July 1st. UBS Group set a $210.00 price objective on shares of Apple and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Finally, Citigroup reaffirmed a "buy" rating on shares of Apple in a report on Tuesday, June 10th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $235.27.
Read Our Latest Stock Report on Apple
Apple Price Performance
AAPL traded down $1.25 during trading on Friday, hitting $211.16. The company's stock had a trading volume of 39,713,698 shares, compared to its average volume of 53,392,240. 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 twelve month low of $169.21 and a twelve month high of $260.10. The business's fifty day simple moving average is $203.27 and its 200 day simple moving average is $217.73. The firm has a market capitalization of $3.15 trillion, a price-to-earnings ratio of 32.89, a P/E/G ratio of 2.36 and a beta of 1.20.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $94.04 billion. During the same period last year, the company earned $1.53 earnings per share. Apple's quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple declared that its Board of Directors has approved a share 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 reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.
Apple Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. Apple's payout ratio is currently 16.20%.
About Apple
(
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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