First International Bank & Trust Has $1.02 Million Stock Position in Apple Inc. $AAPL

Key Points

• First International Bank & Trust reduced its stake in Apple Inc. by 27.3%, bringing their total shares to 4,950 worth approximately $1.02 million.
• Several institutional investors have recently made significant changes to their Apple investments, with ROSS JOHNSON & Associates increasing their holdings by 1,800%.
• Apple's stock has recovered, currently trading at $245.50, and the company reported impressive quarterly earnings with $1.57 EPS, outperforming analysts' expectations.

First International Bank & Trust decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 27.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,950 shares of the iPhone maker's stock after selling 1,856 shares during the period. Apple comprises approximately 0.4% of First International Bank & Trust's holdings, making the stock its 28th largest holding. First International Bank & Trust's holdings in Apple were worth $1,016,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AAPL. ROSS JOHNSON & Associates LLC raised its holdings in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. Life Planning Partners Inc acquired a new position in shares of Apple in the 4th quarter worth approximately $47,000. Elite Financial Inc. acquired a new position in shares of Apple in the 1st quarter worth approximately $58,000. Conquis Financial LLC acquired a new position in shares of Apple in the 4th quarter worth approximately $63,000. Finally, LSV Asset Management acquired a new position in shares of Apple in the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity

In other news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 3.2%

Shares of AAPL opened at $245.50 on Friday. The firm has a market capitalization of $3.64 trillion, a price-to-earnings ratio of 37.25, a PEG ratio of 2.47 and a beta of 1.11. 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 business's fifty day moving average price is $224.35 and its two-hundred day moving average price is $212.42. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

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

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of recent research reports. Bank of America increased their target price on Apple from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Tigress Financial increased their target price on Apple from $300.00 to $305.00 and gave the stock a "strong-buy" rating in a report on Wednesday. UBS Group reissued a "neutral" rating on shares of Apple in a report on Monday, September 8th. HSBC set a $220.00 target price on Apple and gave the stock a "hold" rating in a report on Monday, September 8th. Finally, Wedbush reaffirmed an "outperform" rating and set a $270.00 price target on shares of Apple in a report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $242.74.

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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