PICTET BANK & TRUST Ltd Has $302,000 Position in Apple Inc. $AAPL

PICTET BANK & TRUST Ltd trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 91.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,360 shares of the iPhone maker's stock after selling 15,355 shares during the quarter. PICTET BANK & TRUST Ltd's holdings in Apple were worth $302,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction dated Friday, August 8th. The stock was 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

Apple Price Performance

NASDAQ AAPL traded down $4.2250 during 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. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. 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 Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock's 50 day moving average price is $210.83 and its two-hundred day moving average price is $213.06.

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

Apple declared that its board has initiated a stock buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AAPL shares. Citigroup boosted their target price on shares of Apple from $240.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Friday, July 25th. Barclays boosted their target price on shares of Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Finally, TD Cowen reduced their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average price target 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.