OLD National Bancorp IN decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 593,464 shares of the iPhone maker's stock after selling 25,511 shares during the quarter. Apple accounts for approximately 3.5% of OLD National Bancorp IN's holdings, making the stock its 3rd largest holding. OLD National Bancorp IN's holdings in Apple were worth $131,826,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Tallon Kerry Patrick acquired a new position in Apple during the fourth quarter worth approximately $1,877,000. First National Bank of Hutchinson increased its position in Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after buying an additional 6,982 shares during the last quarter. Capital & Planning LLC increased its position in Apple by 10.7% during the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock worth $6,836,000 after buying an additional 2,647 shares during the last quarter. ARS Investment Partners LLC increased its position in Apple by 3.2% during the fourth quarter. ARS Investment Partners LLC now owns 378,612 shares of the iPhone maker's stock worth $94,812,000 after buying an additional 11,705 shares during the last quarter. Finally, Brookmont Capital Management increased its position in Apple by 14.5% during the fourth quarter. Brookmont Capital Management now owns 1,065 shares of the iPhone maker's stock worth $267,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Analyst Ratings Changes
AAPL has been the topic of a number of recent analyst reports. UBS Group set a $210.00 price target on Apple and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Barclays set a $173.00 price objective on Apple and gave the stock an "underweight" rating in a report on Tuesday, June 24th. Loop Capital reduced their price objective on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Wedbush restated an "outperform" rating and set a $270.00 price objective on shares of Apple in a report on Wednesday. Finally, Monness Crespi & Hardt boosted their price objective on Apple to $245.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Apple presently has an average rating of "Moderate Buy" and an average target price of $234.95.
View Our Latest Stock Analysis on AAPL
Apple Price Performance
Shares of NASDAQ AAPL traded up $1.13 during mid-day trading on Wednesday, hitting $211.14. 48,631,689 shares of the stock traded hands, compared to its average volume of 53,497,198. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a market cap of $3.15 trillion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 2.34 and a beta of 1.20. The firm has a 50 day simple moving average of $203.32 and a two-hundred day simple moving average of $218.08.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. Apple's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.53 EPS. As a group, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is currently 16.20%.
Apple declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.
Insider Buying and Selling at Apple
In other news, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer directly owned 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider directly owned 15,533 shares in the company, valued at $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. 0.06% of the stock is owned by company insiders.
Apple Company Profile
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Free Report)
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.
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