CHICAGO TRUST Co NA Has $32.50 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

CHICAGO TRUST Co NA decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 146,329 shares of the iPhone maker's stock after selling 2,706 shares during the period. Apple comprises about 5.8% of CHICAGO TRUST Co NA's portfolio, making the stock its largest holding. CHICAGO TRUST Co NA's holdings in Apple were worth $32,504,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Drystone LLC bought a new position in Apple in the 4th quarter worth about $25,000. Life Planning Partners Inc bought a new stake in shares of Apple during the fourth quarter valued at approximately $47,000. Conquis Financial LLC acquired a new position in shares of Apple during the fourth quarter worth approximately $63,000. LSV Asset Management bought a new position in Apple in the 4th quarter worth approximately $65,000. Finally, Pillar Financial Advisors LLC acquired a new stake in Apple in the 4th quarter valued at approximately $82,000. Institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction 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 owned 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AAPL shares. China Renaissance assumed coverage on Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target for the company. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a report on Friday, June 13th. Wedbush reissued an "outperform" rating and set a $270.00 target price on shares of Apple in a research note on Wednesday. Loop Capital dropped their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Finally, Monness Crespi & Hardt raised their price objective on shares of Apple to $245.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $235.27.

Apple Trading Down 0.6%

Apple stock traded down $1.25 during midday trading on Friday, reaching $211.16. The stock had a trading volume of 39,713,698 shares, compared to its average volume of 53,349,236. The firm's fifty day simple moving average is $203.39 and its two-hundred day simple moving average is $217.12. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a market cap of $3.15 trillion, a price-to-earnings ratio of 32.89, a PEG ratio of 2.36 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last released 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. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.53 EPS. Equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is currently 16.20%.

Apple Company 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.