Glenview Trust co Purchases 6,424 Shares of Apple Inc. (NASDAQ:AAPL)

Glenview Trust co lifted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,071,668 shares of the iPhone maker's stock after purchasing an additional 6,424 shares during the quarter. Apple accounts for 5.0% of Glenview Trust co's portfolio, making the stock its 2nd largest position. Glenview Trust co's holdings in Apple were worth $268,367,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. State Street Corp grew its holdings in Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. Proficio Capital Partners LLC raised its position in Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after acquiring an additional 20,483,787 shares during the last quarter. FMR LLC increased its holdings in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its stake in Apple by 25,285.2% in the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock valued at $2,411,260,000 after acquiring an additional 9,590,933 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. This represents a 17.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

AAPL traded up $0.91 during trading hours on Thursday, hitting $201.33. The stock had a trading volume of 11,638,749 shares, compared to its average volume of 56,057,477. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock has a market cap of $3.01 trillion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company's fifty day simple moving average is $204.01 and its 200 day simple moving average is $225.36.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. Apple's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 EPS. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its board has initiated a share buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is presently 16.20%.

Analyst Ratings Changes

A number of equities analysts have weighed in on AAPL shares. Morgan Stanley restated an "overweight" rating on shares of Apple in a research note on Monday, May 12th. Redburn Partners set a $230.00 target price on Apple in a report on Friday, January 31st. Monness Crespi & Hardt dropped their price objective on Apple from $260.00 to $245.00 and set a "buy" rating for the company in a report on Friday, May 2nd. DA Davidson increased their price objective on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Jefferies Financial Group reaffirmed an "underperform" rating and set a $170.62 price objective (up previously from $167.88) on shares of Apple in a research report on Friday, May 2nd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $235.80.

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.