Country Club Bank Sells 2,547 Shares of Apple Inc. $AAPL

Country Club Bank trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 143,583 shares of the iPhone maker's stock after selling 2,547 shares during the period. Apple accounts for about 2.1% of Country Club Bank's investment portfolio, making the stock its 8th largest position. Country Club Bank's holdings in Apple were worth $31,287,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Conquis Financial LLC acquired a new stake in Apple in the 4th quarter valued at about $63,000. LSV Asset Management acquired a new stake in Apple in the 4th quarter valued at about $65,000. Elite Financial Inc. acquired a new stake in Apple in the 1st quarter valued at about $58,000. Pillar Financial Advisors LLC acquired a new stake in Apple in the 4th quarter valued at about $82,000. Finally, Sellwood Investment Partners LLC acquired a new stake in Apple in the 4th quarter valued at about $147,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company's stock.

Apple Trading Up 0.9%

NASDAQ AAPL opened at $232.56 on Friday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company's 50 day moving average price is $215.17 and its 200 day moving average price is $213.08. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 35.29, a PEG ratio of 2.41 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the firm posted $1.40 earnings per share. Apple's revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its board has approved a share repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's dividend payout ratio (DPR) is presently 15.78%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AAPL. JPMorgan Chase & Co. increased their price objective on shares of Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Bank of America reaffirmed a "buy" rating and set a $250.00 price target on shares of Apple in a research note on Monday. The Goldman Sachs Group reaffirmed a "buy" rating and set a $266.00 price target on shares of Apple in a research note on Tuesday. BMO Capital Markets reaffirmed a "buy" rating on shares of Apple in a research note on Wednesday, August 13th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $240.00 price target (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.37.

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.

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