First Interstate Bank Sells 241 Shares of Apple Inc. (NASDAQ:AAPL)

First Interstate Bank cut its position in Apple Inc. (NASDAQ:AAPL) by 0.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 89,388 shares of the iPhone maker’s stock after selling 241 shares during the quarter. Apple comprises about 1.3% of First Interstate Bank’s portfolio, making the stock its 16th largest holding. First Interstate Bank’s holdings in Apple were worth $20,827,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lantz Financial LLC increased its holdings in Apple by 8.6% during the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after purchasing an additional 2,361 shares in the last quarter. AHL Investment Management Inc. lifted its stake in Apple by 5.3% in the 2nd quarter. AHL Investment Management Inc. now owns 33,157 shares of the iPhone maker’s stock valued at $6,984,000 after acquiring an additional 1,680 shares in the last quarter. Asset Management Advisors LLC lifted its position in shares of Apple by 1.0% in the second quarter. Asset Management Advisors LLC now owns 45,736 shares of the iPhone maker’s stock worth $9,633,000 after purchasing an additional 459 shares in the last quarter. Signature Wealth Management Partners LLC lifted its position in shares of Apple by 4.0% in the second quarter. Signature Wealth Management Partners LLC now owns 52,874 shares of the iPhone maker’s stock worth $11,136,000 after purchasing an additional 2,016 shares in the last quarter. Finally, D.B. Root & Company LLC boosted its holdings in Apple by 14.6% during the second quarter. D.B. Root & Company LLC now owns 46,704 shares of the iPhone maker’s stock worth $9,837,000 after purchasing an additional 5,947 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

AAPL stock opened at $243.36 on Friday. The company’s 50-day moving average price is $238.91 and its two-hundred day moving average price is $228.87. The firm has a market cap of $3.68 trillion, a P/E ratio of 40.03, a P/E/G ratio of 2.41 and a beta of 1.20. 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 $260.10.

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

Apple Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on AAPL shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Tuesday, December 10th. New Street Research reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Friday, December 13th. Oppenheimer restated a “buy” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Finally, Sanford C. Bernstein upped their price target on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday. Two investment 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $238.03.

Insider Transactions at Apple

In other 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 transaction of $945,233.10. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

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.