Orrstown Financial Services Inc. Has $7.13 Million Stake in Apple Inc. (NASDAQ:AAPL)

Orrstown Financial Services Inc. lifted its stake in Apple Inc. (NASDAQ:AAPL) by 0.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 28,451 shares of the iPhone maker’s stock after purchasing an additional 216 shares during the quarter. Apple comprises about 1.9% of Orrstown Financial Services Inc.’s holdings, making the stock its 9th biggest position. Orrstown Financial Services Inc.’s holdings in Apple were worth $7,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. O Connor Financial Group LLC raised its holdings in shares of Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after buying an additional 41 shares during the last quarter. 1620 Investment Advisors Inc. increased its holdings in shares of Apple by 0.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after purchasing an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC boosted its stake in shares of Apple by 1.3% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after acquiring an additional 46 shares in the last quarter. Menard Financial Group LLC increased its position in shares of Apple by 0.4% in the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock valued at $2,848,000 after buying an additional 48 shares in the last quarter. Finally, Hanseatic Management Services Inc. lifted its holdings in Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock valued at $945,000 after purchasing an additional 48 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 1.1 %

AAPL opened at $220.73 on Tuesday. The stock has a market capitalization of $3.32 trillion, a P/E ratio of 35.04, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The business’s 50-day simple moving average is $231.54 and its 200-day simple moving average is $233.41. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research reports. Monness Crespi & Hardt raised their price objective on Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Maxim Group lifted their target price on shares of Apple to $215.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Barclays increased their price target on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their target price on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, DA Davidson set a $290.00 target price on Apple in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $243.65.

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.