First American Trust FSB lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 12.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,305 shares of the iPhone maker’s stock after selling 9,044 shares during the period. Apple comprises 2.5% of First American Trust FSB’s portfolio, making the stock its 7th largest holding. First American Trust FSB’s holdings in Apple were worth $8,973,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Hefty Wealth Partners boosted its stake in Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares in the last quarter. American Beacon Advisors Inc. acquired a new stake in Apple during the first quarter worth $117,000. Portfolio Solutions LLC acquired a new stake in Apple during the first quarter worth $169,000. Fox Run Management L.L.C. acquired a new stake in Apple during the first quarter worth $201,000. Finally, Stone House Investment Management LLC acquired a new stake in Apple during the first quarter worth $225,000. Hedge funds and other institutional investors own 60.45% of the company’s stock.
AAPL has been the topic of a number of recent research reports. Drexel Hamilton reiterated a “buy” rating and set a $202.00 price target on shares of Apple in a research note on Thursday, July 6th. Barclays PLC restated a “hold” rating and issued a $146.00 target price on shares of Apple in a research note on Monday, September 4th. Instinet restated a “buy” rating and issued a $165.00 target price on shares of Apple in a research note on Wednesday, July 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $180.00 target price on shares of Apple in a research note on Monday, September 11th. Finally, Morgan Stanley restated an “overweight” rating and issued a $182.00 target price on shares of Apple in a research note on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $187.63.
In other news, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $157.58, for a total value of $5,515,300.00. Following the sale, the director now directly owns 1,168,283 shares of the company’s stock, valued at $184,098,035.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The disclosure for this sale can be found here. Insiders sold 432,930 shares of company stock worth $69,008,577 over the last ninety days. Insiders own 0.08% of the company’s stock.
Apple Inc. (AAPL) traded up 1.01% during trading on Friday, hitting $159.88. The stock had a trading volume of 49,114,602 shares. The company has a 50-day moving average of $158.97 and a 200 day moving average of $149.42. The firm has a market cap of $825.82 billion, a P/E ratio of 18.15 and a beta of 1.27. Apple Inc. has a 52-week low of $104.08 and a 52-week high of $164.94.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. During the same period in the previous year, the firm posted $1.42 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post $9.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.58%. Apple’s dividend payout ratio (DPR) is 28.64%.
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Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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