Bangor Savings Bank Sells 2,036 Shares of Apple Inc. (NASDAQ:AAPL)

Bangor Savings Bank trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 66,879 shares of the iPhone maker's stock after selling 2,036 shares during the quarter. Apple makes up 1.4% of Bangor Savings Bank's holdings, making the stock its 14th largest position. Bangor Savings Bank's holdings in Apple were worth $14,856,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Drystone LLC acquired a new position in Apple in the 4th quarter valued at about $25,000. Life Planning Partners Inc acquired a new position in Apple in the 4th quarter valued at about $47,000. Conquis Financial LLC acquired a new position in Apple in the 4th quarter valued at about $63,000. LSV Asset Management acquired a new position in Apple in the 4th quarter valued at about $65,000. Finally, Pillar Financial Advisors LLC acquired a new position in Apple in the 4th quarter valued at about $82,000. 67.73% of the stock is owned by institutional investors.

Apple Stock Down 0.6%

NASDAQ:AAPL traded down $1.25 during trading hours on Friday, reaching $211.16. The company had a trading volume of 39,713,698 shares, compared to its average volume of 53,349,236. 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 $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. The business's 50-day simple moving average is $203.39 and its two-hundred day simple moving average is $217.41. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $1.53 earnings per share. On average, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its board has authorized a share repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This is a boost 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%. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is currently 16.20%.

Insider Transactions at Apple

In other news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated 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 owned 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

AAPL has been the topic of a number of research reports. Scotiabank lowered shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Bank of America restated a "buy" rating and set a $235.00 target price on shares of Apple in a research report on Tuesday, June 10th. JPMorgan Chase & Co. decreased their target price on shares of Apple from $245.00 to $230.00 and set an "overweight" rating on the stock in a research report on Thursday, June 26th. Tigress Financial increased their target price on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $235.27.

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.