Home Federal Bank of Tennessee Has $6.85 Million Position in Apple Inc. (NASDAQ:AAPL)

Home Federal Bank of Tennessee cut its holdings in Apple Inc. (NASDAQ:AAPL) by 3.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,397 shares of the iPhone maker’s stock after selling 1,153 shares during the quarter. Apple accounts for approximately 2.0% of Home Federal Bank of Tennessee’s holdings, making the stock its 5th largest position. Home Federal Bank of Tennessee’s holdings in Apple were worth $6,850,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. High Net Worth Advisory Group LLC boosted its stake in shares of Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after buying an additional 1,066 shares during the last quarter. Granite Investment Partners LLC lifted its holdings in Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the period. Truist Financial Corp lifted its holdings in Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares during the period. EP Wealth Advisors LLC boosted its position in Apple by 5.2% in the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after purchasing an additional 95,235 shares during the last quarter. Finally, CHICAGO TRUST Co NA grew its stake in shares of Apple by 15.2% during the 3rd quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock valued at $34,768,000 after purchasing an additional 19,670 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This represents a 35.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % 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. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $253.48 on Wednesday. The firm has a fifty day simple moving average of $233.64 and a two-hundred day simple moving average of $224.73. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $253.83. 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 market capitalization of $3.83 trillion, a P/E ratio of 41.69, a PEG ratio of 2.41 and a beta of 1.23.

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

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Friday, December 13th. Melius Research reiterated a “buy” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. UBS Group restated a “neutral” rating and issued a $236.00 price objective on shares of Apple in a research note on Monday, December 2nd. Piper Sandler reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Finally, Maxim Group upped their price target on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $236.78.

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.