Apple Inc. (NASDAQ:AAPL) is Bank of Stockton’s 6th Largest Position

Bank of Stockton trimmed its position in Apple Inc. (NASDAQ:AAPL) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,251 shares of the iPhone maker’s stock after selling 1,483 shares during the quarter. Apple accounts for approximately 3.0% of Bank of Stockton’s portfolio, making the stock its 6th largest holding. Bank of Stockton’s holdings in Apple were worth $10,077,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC raised its stake in shares of Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares during the period. Strategic Financial Concepts LLC increased its holdings in Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Apple in the 2nd quarter valued at $834,368,000. Ameriprise Financial Inc. raised its position in Apple by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after purchasing an additional 3,245,281 shares during the period. Finally, Tairen Capital Ltd acquired a new position in shares of Apple during the second quarter worth about $588,952,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

In related news, 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 transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % 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, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 508,170 shares of company stock worth $117,004,745 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Up 1.1 %

Apple stock opened at $258.20 on Wednesday. The firm has a 50-day moving average price of $235.45 and a two-hundred day moving average price of $226.34. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $258.21. The firm has a market capitalization of $3.90 trillion, a price-to-earnings ratio of 42.47, a PEG ratio of 2.41 and a beta of 1.23. 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 (NASDAQ:AAPL) last issued 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 business 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 revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 earnings per share. Sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on AAPL. New Street Research reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Morgan Stanley reissued an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Friday, December 13th. Melius Research reaffirmed a “buy” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. Finally, Loop Capital cut their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.

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.