Bremer Bank National Association Has $19.03 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Bremer Bank National Association boosted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,676 shares of the iPhone maker's stock after acquiring an additional 4,838 shares during the quarter. Apple accounts for about 3.4% of Bremer Bank National Association's investment portfolio, making the stock its 4th largest position. Bremer Bank National Association's holdings in Apple were worth $19,031,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Apple during the 4th quarter valued at about $46,868,648,000. GAMMA Investing LLC increased its position in shares of Apple by 25,934.1% during the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock valued at $133,425,490,000 after buying an additional 59,835,676 shares during the period. Vanguard Group Inc. raised its stake in Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after buying an additional 49,168,843 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after purchasing an additional 20,966,232 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. Institutional investors own 67.73% of the company's stock.

Insider Activity

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the transaction, the chief financial officer owned 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 38,822 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president directly owned 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81% 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. Insiders own 0.06% of the company's stock.

Apple Trading Up 2.0%

Shares of NASDAQ:AAPL opened at $205.17 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The stock has a market cap of $3.06 trillion, a price-to-earnings ratio of 31.96, a PEG ratio of 2.25 and a beta of 1.22. The business has a 50-day moving average price of $202.85 and a 200-day moving average price of $219.53.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company had revenue of $95.36 billion for 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. Apple's quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.

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 paid a $0.26 dividend. 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 0.51%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is presently 16.20%.

Apple announced that its board has approved a share repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent analyst reports. Rosenblatt Securities cut shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a report on Friday, May 2nd. DA Davidson raised their price target on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Scotiabank cut Apple to a "market perform" rating in a research report on Friday, May 2nd. Evercore ISI lifted their price target on shares of Apple to $250.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Citigroup reissued a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $234.39.

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.

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