First National Bank Sioux Falls Has $5.44 Million Holdings in Apple Inc. (NASDAQ:AAPL)

First National Bank Sioux Falls raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 8.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,484 shares of the iPhone maker's stock after acquiring an additional 1,813 shares during the quarter. Apple makes up 2.2% of First National Bank Sioux Falls' holdings, making the stock its 14th biggest position. First National Bank Sioux Falls' holdings in Apple were worth $5,439,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of AAPL. Tallon Kerry Patrick bought a new position in shares of Apple in the 4th quarter worth $1,877,000. First National Bank of Hutchinson boosted its position in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after buying an additional 6,982 shares during the period. Capital & Planning LLC boosted its position in Apple by 10.7% during the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after buying an additional 2,647 shares during the period. MBM Wealth Consultants LLC lifted its position in shares of Apple by 1.5% in the 4th quarter. MBM Wealth Consultants LLC now owns 15,035 shares of the iPhone maker's stock worth $3,666,000 after purchasing an additional 227 shares during the period. Finally, West Branch Capital LLC lifted its position in shares of Apple by 1.3% in the 4th quarter. West Branch Capital LLC now owns 154,737 shares of the iPhone maker's stock worth $38,749,000 after purchasing an additional 1,995 shares during the period. Institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In other news, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.

Apple Stock Down 0.6%

Shares of AAPL traded down $1.25 during trading on Friday, reaching $211.16. The company's stock had a trading volume of 39,713,698 shares, compared to its average volume of 53,392,240. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The company has a market cap of $3.15 trillion, a price-to-earnings ratio of 32.89, a P/E/G ratio of 2.36 and a beta of 1.20. The company has a fifty day moving average of $203.27 and a two-hundred day moving average of $217.73.

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, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the previous year, the business earned $1.53 EPS. The business's quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its board has approved a stock repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's payout ratio is presently 16.20%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Apple from $245.00 to $230.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective for the company. in a research note on Friday, May 2nd. TD Cowen reduced their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Monness Crespi & Hardt raised their price objective on shares of Apple to $245.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Apple in a report on Tuesday, June 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $235.27.

About Apple

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.