Intrust Bank NA Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Intrust Bank NA cut its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 125,647 shares of the iPhone maker's stock after selling 3,133 shares during the quarter. Apple makes up about 3.2% of Intrust Bank NA's holdings, making the stock its 5th biggest position. Intrust Bank NA's holdings in Apple were worth $31,465,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Drystone LLC bought a new stake in shares of Apple in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc bought a new stake in shares of Apple in the fourth quarter valued at approximately $47,000. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple in the third quarter valued at approximately $71,000. Pillar Financial Advisors LLC bought a new stake in shares of Apple in the fourth quarter valued at approximately $82,000. Finally, Compass Planning Associates Inc bought a new stake in shares of Apple in the fourth quarter valued at approximately $96,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction 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 sale, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. This represents a 8.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,507 shares of company stock valued at $42,694,080. Insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of NASDAQ:AAPL traded down $2.47 during trading on Monday, reaching $201.45. The company had a trading volume of 72,665,260 shares, compared to its average volume of 56,221,299. The company has a fifty day moving average of $201.17 and a two-hundred day moving average of $224.12. The stock has a market capitalization of $3.01 trillion, a P/E ratio of 31.98, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

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

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

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is currently 16.20%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Raymond James lowered their price target on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Loop Capital lowered their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Citigroup reissued a "cautious" rating on shares of Apple in a research report on Monday, May 5th. Finally, Morgan Stanley restated an "overweight" rating and issued a $235.00 price objective on shares of Apple in a research report on Thursday. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $235.02.

Apple 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.