Passumpsic Savings Bank Boosts Stock Position in Apple Inc. (NASDAQ:AAPL)

Passumpsic Savings Bank grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 9.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,528 shares of the iPhone maker’s stock after purchasing an additional 303 shares during the period. Passumpsic Savings Bank’s holdings in Apple were worth $822,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. McIlrath & Eck LLC increased its position in Apple by 1.7% during the 3rd quarter. McIlrath & Eck LLC now owns 56,230 shares of the iPhone maker’s stock worth $13,101,000 after purchasing an additional 940 shares during the period. Discipline Wealth Solutions LLC acquired a new stake in shares of Apple in the 3rd quarter worth approximately $2,013,000. Unigestion Holding SA grew its holdings in shares of Apple by 358.2% in the 3rd quarter. Unigestion Holding SA now owns 200,231 shares of the iPhone maker’s stock worth $46,652,000 after acquiring an additional 156,535 shares during the period. Second Line Capital LLC grew its holdings in shares of Apple by 3.4% in the 3rd quarter. Second Line Capital LLC now owns 24,995 shares of the iPhone maker’s stock worth $5,824,000 after acquiring an additional 823 shares during the period. Finally, TCW Group Inc. grew its holdings in shares of Apple by 6.1% in the 3rd quarter. TCW Group Inc. now owns 571,323 shares of the iPhone maker’s stock worth $133,118,000 after acquiring an additional 32,913 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. The trade was a 24.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 408,170 shares of company stock worth $92,007,745. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $248.49 on Wednesday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $248.49. The stock has a market cap of $3.76 trillion, a price-to-earnings ratio of 40.75, a PEG ratio of 2.42 and a beta of 1.23. The stock’s 50 day moving average price is $230.80 and its 200 day moving average price is $222.26. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last announced its 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. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.46 earnings per share. Equities research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.40%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of analyst reports. Citigroup increased their target price on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. New Street Research reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Wedbush reissued an “outperform” rating and set a $300.00 price target on shares of Apple in a research note on Friday, November 29th. Bank of America increased their price target on Apple to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Rosenblatt Securities increased their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Apple 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.