Town & Country Bank & Trust CO dba First Bankers Trust CO Sells 2,087 Shares of Apple Inc. (NASDAQ:AAPL)

Town & Country Bank & Trust CO dba First Bankers Trust CO lessened its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,719 shares of the iPhone maker's stock after selling 2,087 shares during the period. Apple makes up approximately 2.9% of Town & Country Bank & Trust CO dba First Bankers Trust CO's investment portfolio, making the stock its 4th largest position. Town & Country Bank & Trust CO dba First Bankers Trust CO's holdings in Apple were worth $7,268,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in AAPL. Regent Peak Wealth Advisors LLC raised its position in Apple by 0.9% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker's stock valued at $28,012,000 after purchasing an additional 1,050 shares in the last quarter. RMR Wealth Builders increased its holdings in shares of Apple by 0.7% during the fourth quarter. RMR Wealth Builders now owns 119,262 shares of the iPhone maker's stock worth $29,866,000 after buying an additional 786 shares in the last quarter. Signal Advisors Wealth LLC increased its holdings in shares of Apple by 7.3% during the fourth quarter. Signal Advisors Wealth LLC now owns 40,991 shares of the iPhone maker's stock worth $10,265,000 after buying an additional 2,794 shares in the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of Apple by 0.5% during the fourth quarter. Rosenberg Matthew Hamilton now owns 11,330 shares of the iPhone maker's stock worth $2,837,000 after buying an additional 53 shares in the last quarter. Finally, Capital CS Group LLC increased its holdings in shares of Apple by 109.4% during the fourth quarter. Capital CS Group LLC now owns 3,797 shares of the iPhone maker's stock worth $951,000 after buying an additional 44,406 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AAPL. China Renaissance began coverage on shares of Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target for the company. Jefferies Financial Group reiterated an "underperform" rating and set a $170.62 price target (up from $167.88) on shares of Apple in a report on Friday, May 2nd. UBS Group restated a "buy" rating on shares of Apple in a report on Sunday, June 1st. TD Cowen decreased their price objective on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Monness Crespi & Hardt increased their price objective on Apple to $245.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $234.86.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction dated 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 transaction, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. The trade was a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer now owns 4,569 shares in the company, valued at approximately $941,214. This trade represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock worth $42,694,080 in the last 90 days. 0.06% of the stock is owned by company insiders.

Apple Trading Down 0.6%

NASDAQ:AAPL opened at $200.30 on Wednesday. The firm has a 50-day moving average price of $202.29 and a two-hundred day moving average price of $220.98. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm has a market cap of $2.99 trillion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate 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 net margin of 24.30% and a return on equity of 167.24%. Apple's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $1.53 EPS. On average, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed 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 payout ratio is currently 16.20%.

Apple declared that its Board of Directors has authorized a share buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

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.

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