Apple Inc. $AAPL is Keybank National Association OH's 3rd Largest Position

Keybank National Association OH trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,109,182 shares of the iPhone maker's stock after selling 220,858 shares during the period. Apple accounts for 4.5% of Keybank National Association OH's holdings, making the stock its 3rd largest position. Keybank National Association OH's holdings in Apple were worth $1,134,903,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Life Planning Partners Inc bought a new stake in shares of Apple during the fourth quarter worth $47,000. Conquis Financial LLC acquired a new position in Apple in the fourth quarter valued at $63,000. LSV Asset Management acquired a new position in Apple in the fourth quarter valued at $65,000. Pillar Financial Advisors LLC acquired a new position in Apple in the fourth quarter valued at $82,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Apple during the fourth quarter valued at about $96,000. 67.73% of the stock is owned by institutional investors.

Apple Stock Down 1.8%

NASDAQ:AAPL traded down $4.2250 during mid-day trading on Wednesday, hitting $226.3350. 21,412,486 shares of the company's stock were exchanged, compared to its average volume of 57,531,371. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The business has a fifty day moving average price of $210.83 and a 200 day moving average price of $213.06. The company has a market cap of $3.36 trillion, a PE ratio of 34.35, a P/E/G ratio of 2.42 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same period in the previous year, the company earned $1.40 earnings per share. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its board has approved a stock buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is presently 15.78%.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AAPL shares. DA Davidson restated a "buy" rating and issued a $250.00 target price on shares of Apple in a report on Friday, August 1st. Monness Crespi & Hardt upped their target price on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Morgan Stanley increased their price objective on shares of Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a research note on Wednesday, August 13th. Finally, Scotiabank downgraded shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.60.

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.