Apple Inc. (NASDAQ:AAPL) Shares Sold by UMB Bank n.a.

UMB Bank n.a. lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,319,091 shares of the iPhone maker's stock after selling 20,462 shares during the quarter. Apple makes up approximately 4.8% of UMB Bank n.a.'s holdings, making the stock its 3rd biggest position. UMB Bank n.a.'s holdings in Apple were worth $293,010,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Sentinel Pension Advisors LLC lifted its holdings in Apple by 0.6% in the 1st quarter. Sentinel Pension Advisors LLC now owns 27,923 shares of the iPhone maker's stock worth $6,203,000 after purchasing an additional 156 shares during the last quarter. Clean Yield Group raised its position in shares of Apple by 1.4% in the first quarter. Clean Yield Group now owns 106,545 shares of the iPhone maker's stock valued at $23,667,000 after purchasing an additional 1,421 shares during the period. ONE Advisory Partners LLC lifted its stake in shares of Apple by 7.7% in the first quarter. ONE Advisory Partners LLC now owns 1,363 shares of the iPhone maker's stock worth $303,000 after buying an additional 97 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Apple by 6.4% during the 1st quarter. Sivia Capital Partners LLC now owns 43,521 shares of the iPhone maker's stock worth $9,667,000 after buying an additional 2,637 shares during the period. Finally, Gemmer Asset Management LLC boosted its holdings in shares of Apple by 1.5% during the 1st quarter. Gemmer Asset Management LLC now owns 52,113 shares of the iPhone maker's stock worth $11,576,000 after buying an additional 782 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on AAPL. Scotiabank cut shares of Apple to a "market perform" rating in a report on Friday, May 2nd. Barclays set a $173.00 target price on Apple and gave the company an "underweight" rating in a research note on Tuesday, June 24th. DA Davidson raised their target price on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 2nd. China Renaissance initiated coverage on Apple in a report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on Apple from $245.00 to $230.00 and set an "overweight" rating on the stock in a report on Thursday, June 26th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $235.27.

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer directly owned 4,569 shares of the company's stock, valued at approximately $941,214. This trade represents a 50.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction on 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 sale, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.

Apple Price Performance

AAPL traded down $1.25 during trading on Friday, hitting $211.16. The company's stock had a trading volume of 39,713,698 shares, compared to its average volume of 53,392,190. The firm's 50 day moving average price is $203.27 and its two-hundred day moving average price is $217.73. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a market capitalization of $3.15 trillion, a price-to-earnings ratio of 32.89, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the previous year, the company posted $1.53 EPS. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.49%. Apple's payout ratio is presently 16.20%.

Apple announced that its board has approved 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 purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board 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.