First National Bank Sioux Falls Decreases Holdings in Apple Inc. $AAPL

Key Points

• First National Bank Sioux Falls has reduced its stake in Apple Inc. by 8.7%, now owning 22,357 shares valued at approximately $4.59 million, which constitutes about 1.7% of their total holdings.
• Several institutional investors, including Kera Capital Partners and Private Client Services, have significantly increased their positions in Apple during the same quarter, reflecting ongoing institutional interest.
• Apple recorded a quarterly earnings per share of $1.57, surpassing estimates, with revenues of $94.04 billion for the quarter, representing a 9.6% year-over-year increase.

First National Bank Sioux Falls trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 8.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,357 shares of the iPhone maker's stock after selling 2,127 shares during the quarter. Apple accounts for 1.7% of First National Bank Sioux Falls' investment portfolio, making the stock its 16th largest holding. First National Bank Sioux Falls' holdings in Apple were worth $4,587,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. ROSS JOHNSON & Associates LLC grew its holdings in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after buying an additional 180 shares in the last quarter. Conquis Financial LLC bought a new stake in Apple during the fourth quarter worth $63,000. LSV Asset Management bought a new stake in Apple during the fourth quarter worth $65,000. Elite Financial Inc. bought a new stake in Apple during the first quarter worth $58,000. Finally, HFM Investment Advisors LLC bought a new stake in Apple during the first quarter worth $99,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction dated 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 sale, the senior vice president owned 136,687 shares of the company's stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AAPL has been the subject of several recent research reports. Wedbush reiterated an "outperform" rating and set a $270.00 price target on shares of Apple in a report on Tuesday, September 9th. JPMorgan Chase & Co. increased their price target on shares of Apple from $255.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Friday, July 25th. UBS Group reaffirmed a "neutral" rating on shares of Apple in a research report on Monday, September 8th. Finally, Citigroup reaffirmed a "buy" rating on shares of Apple in a research report on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and a consensus target price of $242.74.

Apple Stock Performance

Shares of AAPL stock traded up $7.62 on Friday, hitting $245.50. 163,435,991 shares of the stock were exchanged, compared to its average volume of 47,568,860. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The firm's 50 day moving average is $224.35 and its two-hundred day moving average is $212.42. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $3.64 trillion, a PE ratio of 37.25, a P/E/G ratio of 2.47 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 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 during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter last year, the company earned $1.40 EPS. The firm's revenue was up 9.6% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid 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 currently 15.78%.

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.