Apple Inc. (NASDAQ:AAPL) Stake Reduced by Midwest Heritage Bank FSB

Midwest Heritage Bank FSB trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 22.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,160 shares of the iPhone maker’s stock after selling 335 shares during the quarter. Midwest Heritage Bank FSB’s holdings in Apple were worth $270,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of AAPL. Swedbank AB bought a new position in Apple in the 1st quarter worth approximately $3,026,492,000. Strategic Financial Concepts LLC grew its stake in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after purchasing an additional 7,558,826 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares during the period. Lazard Asset Management LLC raised its stake in shares of Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after purchasing an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Apple in the second quarter worth about $834,368,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Up 0.1 %

Shares of NASDAQ:AAPL opened at $248.13 on Friday. The firm has a fifty day moving average of $232.50 and a two-hundred day moving average of $223.64. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $250.80. The firm has a market capitalization of $3.75 trillion, a P/E 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, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the firm earned $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on AAPL shares. Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 target price on shares of Apple in a research note on Monday, September 9th. New Street Research reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Rosenblatt Securities increased their price target on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Bank of America boosted their price objective on Apple to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction 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 approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 408,170 shares of company stock worth $92,007,745. Insiders own 0.06% of the company’s stock.

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.