Tompkins Financial Corp Sells 1,455 Shares of Apple Inc. (NASDAQ:AAPL)

Tompkins Financial Corp lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 206,100 shares of the iPhone maker's stock after selling 1,455 shares during the quarter. Apple makes up about 4.4% of Tompkins Financial Corp's investment portfolio, making the stock its 3rd biggest position. Tompkins Financial Corp's holdings in Apple were worth $45,781,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. OneAscent Wealth Management LLC grew its stake in Apple by 4.6% during the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after buying an additional 409 shares during the period. Allstate Corp grew its stake 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 purchasing an additional 438,471 shares in the last quarter. Vinva Investment Management Ltd grew its position in shares of Apple by 12.4% in the 4th 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 in the last quarter. Tradewinds Capital Management LLC boosted its holdings 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 purchasing an additional 1,779 shares during the period. Finally, Berkshire Bank boosted its holdings in shares of Apple by 2.7% in the 4th quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock valued at $22,433,000 after buying an additional 2,360 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider now owns 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the sale, the senior vice president now owns 179,158 shares of the company's stock, valued at approximately $40,072,269.86. The trade was a 17.81% decrease in their position. 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 owned by company insiders.

Apple Stock Performance

Apple stock traded up $0.08 during trading hours on Friday, reaching $201.08. 73,093,456 shares of the company were exchanged, compared to its average volume of 53,477,308. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The stock has a 50-day moving average of $202.52 and a 200 day moving average of $220.53. The firm has a market cap of $3.00 trillion, a price-to-earnings ratio of 31.32, a PEG ratio of 2.24 and a beta of 1.22. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share 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 firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the prior year, the company earned $1.53 EPS. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid 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 0.52%. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent research reports. UBS Group restated a "buy" rating on shares of Apple in a research note on Sunday, June 1st. Monness Crespi & Hardt boosted their price objective on Apple to $245.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Scotiabank lowered shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Tigress Financial upped their target price on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a report on Thursday, April 3rd. Finally, Evercore ISI upped their price target on shares of Apple to $250.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average price target of $234.39.

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.