Community Bank N.A. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 390,498 shares of the iPhone maker's stock after selling 2,817 shares during the period. Apple makes up approximately 12.5% of Community Bank N.A.'s portfolio, making the stock its biggest holding. Community Bank N.A.'s holdings in Apple were worth $97,788,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. State Street Corp raised its position in shares of Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the period. FMR LLC boosted its position in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC grew its holdings in Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Apple by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker's stock valued at $24,566,054,000 after buying an additional 3,156,680 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Apple by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker's stock worth $21,335,435,000 after buying an additional 1,742,087 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.
Apple Trading Down 0.3%
NASDAQ:AAPL traded down $0.61 during trading hours on Thursday, reaching $202.21. 8,967,959 shares of the stock were exchanged, compared to its average volume of 55,938,325. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The business has a 50-day moving average of $201.99 and a two-hundred day moving average of $224.54. The company has a market capitalization of $3.02 trillion, a price-to-earnings ratio of 32.15, a PEG ratio of 2.44 and a beta of 1.27. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.
Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the prior year, the company earned $1.53 EPS. Apple's revenue was up 5.1% on a year-over-year basis. On average, equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.
Apple announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is currently 16.20%.
Insider Activity
In other news, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction 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. This represents a 17.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several brokerages recently commented on AAPL. UBS Group reissued a "buy" rating on shares of Apple in a report on Sunday. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. DA Davidson boosted their price objective on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. lowered their price target on Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, TD Cowen decreased their price objective on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.80.
Get Our Latest Analysis on Apple
Apple Profile
(
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.
See Also
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
