First National Corp MA ADV Sells 4,893 Shares of Apple Inc. $AAPL

Key Points

• First National Corp MA ADV reduced its stake in Apple Inc. by 7.3% during the second quarter, now holding 62,160 shares valued at approximately $12.75 million.
• Multiple institutional investors, including FF Advisors LLC and PTM Wealth Management LLC, increased their positions in Apple during the same period, indicating ongoing confidence in the stock.
• Apple's recent quarterly earnings exceeded expectations with an EPS of $1.57, and the company also announced a quarterly dividend of $0.26, reflecting its strong financial performance.

First National Corp MA ADV cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,160 shares of the iPhone maker's stock after selling 4,893 shares during the quarter. Apple makes up 2.6% of First National Corp MA ADV's investment portfolio, making the stock its 11th largest holding. First National Corp MA ADV's holdings in Apple were worth $12,753,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. First National Bank of Hutchinson grew its holdings 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 in the last quarter. Eagle Capital Management LLC grew its holdings in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after buying an additional 272 shares in the last quarter. Brighton Jones LLC grew its holdings in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after buying an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after buying an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE grew its holdings in Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after buying an additional 1,155 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Trading Up 4.3%

Apple stock traded up $10.58 during trading hours on Monday, reaching $256.08. The company had a trading volume of 105,286,841 shares, compared to its average volume of 53,632,036. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a market cap of $3.80 trillion, a price-to-earnings ratio of 38.86, a P/E/G ratio of 2.55 and a beta of 1.11. The company has a 50-day moving average price of $224.35 and a 200 day moving average price of $212.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same period in the previous year, the firm earned $1.40 earnings per share. The business's revenue was up 9.6% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

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

Insiders Place Their Bets

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the business'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 sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AAPL shares. Bank of America lifted their target price on Apple from $260.00 to $270.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Jefferies Financial Group lifted their price target on Apple from $190.67 to $205.82 and gave the company a "hold" rating in a research report on Monday, September 8th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Friday, July 25th. UBS Group reiterated a "neutral" rating on shares of Apple in a research report on Monday, September 8th. Finally, DA Davidson reiterated a "neutral" rating and set a $250.00 price target on shares of Apple in a research report on Thursday, September 11th. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.03.

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.