Apple Inc. $AAPL Position Decreased by Webster Bank N. A.

Key Points

• Webster Bank N. A. reduced its stake in Apple Inc. by 4.7%, ending the last quarter with approximately $42.58 million in stock valued at about 207,527 shares, making Apple its third-largest holding.
• Apple's most recent quarterly earnings report revealed earnings of $1.57 per share, surpassing analysts' expectations, with revenues totaling $94.04 billion for the quarter, a 9.6% increase year-over-year.
• According to recent analyst ratings, Apple has an average target price of $242.74 with a range of recommendations, including two Strong Buy ratings and fourteen Hold ratings.

Webster Bank N. A. decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 207,527 shares of the iPhone maker's stock after selling 10,316 shares during the quarter. Apple comprises approximately 4.4% of Webster Bank N. A.'s investment portfolio, making the stock its 3rd largest position. Webster Bank N. A.'s holdings in Apple were worth $42,578,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AAPL. Advanced Portfolio Management LLC boosted its stake in Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after buying an additional 47 shares in the last quarter. Salus Financial Advisors LLC increased its stake in Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock worth $291,000 after acquiring an additional 49 shares during the last quarter. Sharpepoint LLC increased its position in shares of Apple by 3.5% during the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock valued at $322,000 after purchasing an additional 51 shares during the last quarter. Redwood Financial Network Corp increased its position in Apple by 0.6% during the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock valued at $2,184,000 after buying an additional 53 shares in the last quarter. Finally, Mission Hills Financial Advisory LLC boosted its stake in shares of Apple by 1.3% in the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock worth $892,000 after buying an additional 53 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Up 3.2%

Shares of Apple stock traded up $7.62 on Friday, hitting $245.50. The company had a trading volume of 163,435,991 shares, compared to its average volume of 53,632,036. The stock has a market capitalization of $3.64 trillion, a price-to-earnings ratio of 37.25, a P/E/G ratio of 2.55 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a 50 day moving average of $224.35 and a 200-day moving average of $212.26. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

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

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio is presently 15.78%.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Loop Capital decreased their price target on Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a research note on Thursday, August 21st. Raymond James Financial restated an "outperform" rating and issued a $240.00 price target (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Rosenblatt Securities increased their price target on Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. Tigress Financial increased their price target on Apple from $300.00 to $305.00 and gave the company a "strong-buy" rating in a report on Wednesday. Finally, DA Davidson reaffirmed a "neutral" rating and set a $250.00 price target on shares of Apple in a research report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $242.74.

Apple Company 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.