First United Bank & Trust Sells 2,530 Shares of Apple Inc. (NASDAQ:AAPL)

First United Bank & Trust cut its holdings in Apple Inc. (NASDAQ:AAPL) by 6.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 39,870 shares of the iPhone maker’s stock after selling 2,530 shares during the period. Apple makes up about 3.3% of First United Bank & Trust’s portfolio, making the stock its 4th largest holding. First United Bank & Trust’s holdings in Apple were worth $9,290,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Hershey Financial Advisers LLC acquired a new position in Apple during the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc raised its holdings in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the last quarter. Hoese & Co LLP boosted its position in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the period. Sage Financial Group Inc. bought a new position in Apple in the 2nd quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in Apple in the 2nd quarter valued at approximately $208,000. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Rosenblatt Securities boosted their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. New Street Research reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Wedbush reissued an “outperform” rating and set a $300.00 target price on shares of Apple in a research note on Friday, November 29th. Loop Capital reduced their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Maxim Group raised their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $235.68.

Apple Trading Down 0.1 %

NASDAQ AAPL opened at $242.84 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $244.63. The firm’s fifty day simple moving average is $230.23 and its 200-day simple moving average is $221.05. The company has a market capitalization of $3.67 trillion, a PE ratio of 39.94, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $1.46 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s dividend payout ratio (DPR) is 16.45%.

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.