Apple Inc. (NASDAQ:AAPL) Position Trimmed by CNB Bank

CNB Bank decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,705 shares of the iPhone maker’s stock after selling 1,230 shares during the quarter. Apple comprises 6.2% of CNB Bank’s holdings, making the stock its biggest position. CNB Bank’s holdings in Apple were worth $13,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AAPL. China Universal Asset Management Co. Ltd. boosted its position in Apple by 127.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after buying an additional 42,282 shares during the last quarter. Northwest Wealth Management LLC lifted its stake in Apple by 15.5% during the 1st quarter. Northwest Wealth Management LLC now owns 45,135 shares of the iPhone maker’s stock valued at $7,740,000 after acquiring an additional 6,050 shares during the period. MayTech Global Investments LLC boosted its holdings in shares of Apple by 9.5% in the 1st quarter. MayTech Global Investments LLC now owns 182,115 shares of the iPhone maker’s stock valued at $31,229,000 after acquiring an additional 15,853 shares during the last quarter. Vident Advisory LLC increased its stake in shares of Apple by 26.3% in the first quarter. Vident Advisory LLC now owns 285,925 shares of the iPhone maker’s stock worth $49,031,000 after acquiring an additional 59,568 shares during the period. Finally, EntryPoint Capital LLC raised its holdings in shares of Apple by 417.6% during the first quarter. EntryPoint Capital LLC now owns 1,822 shares of the iPhone maker’s stock worth $312,000 after purchasing an additional 1,470 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock valued at $92,007,745 over the last quarter. 0.06% of the stock is owned by insiders.

Apple Stock Up 0.1 %

Shares of AAPL opened at $248.13 on Friday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $250.80. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock has a fifty day simple moving average of $232.50 and a two-hundred day simple moving average of $223.64. The company has a market capitalization of $3.75 trillion, a PE ratio of 40.81, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

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

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.40%. Apple’s payout ratio is 16.45%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AAPL shares. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Apple in a report on Friday, November 29th. Loop Capital dropped their target price on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Citigroup lifted their price target on Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Evercore ISI reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.

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.