Apple Inc. (NASDAQ:AAPL) Holdings Lessened by Park National Corp OH

Park National Corp OH lowered its stake in Apple Inc. (NASDAQ:AAPL) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 644,449 shares of the iPhone maker’s stock after selling 8,286 shares during the period. Apple makes up approximately 4.3% of Park National Corp OH’s investment portfolio, making the stock its 4th biggest position. Park National Corp OH’s holdings in Apple were worth $110,510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Yeomans Consulting Group Inc. purchased a new stake in shares of Apple in the fourth quarter worth approximately $1,713,000. Raleigh Capital Management Inc. boosted its stake in shares of Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after purchasing an additional 1,643 shares during the period. Headinvest LLC boosted its stake in shares of Apple by 1.7% during the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after purchasing an additional 872 shares during the period. GLOBALT Investments LLC GA purchased a new position in Apple in the 4th quarter worth about $38,406,000. Finally, Barden Capital Management Inc. lifted its holdings in Apple by 132.8% during the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after buying an additional 18,615 shares in the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the chief executive officer now directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 346,270 shares of company stock worth $60,880,196. 0.06% of the stock is currently owned by company insiders.

Apple Stock Down 1.1 %

Shares of NASDAQ:AAPL opened at $214.29 on Wednesday. The company has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 33.33, a PEG ratio of 2.59 and a beta of 1.25. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $220.20. The business has a 50-day moving average price of $185.62 and a 200 day moving average price of $184.36. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same period in the prior year, the business posted $1.52 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 6.58 EPS for the current year.

Apple announced that its Board of Directors has authorized a share buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a $0.25 dividend. The ex-dividend date was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. Apple’s payout ratio is presently 15.55%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Maxim Group initiated coverage on shares of Apple in a research report on Wednesday, April 17th. They set a “hold” rating and a $178.00 target price on the stock. Rosenblatt Securities reiterated a “neutral” rating and issued a $196.00 target price on shares of Apple in a report on Tuesday, June 11th. Canaccord Genuity Group raised their price target on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Saturday, May 4th. UBS Group reaffirmed a “neutral” rating and issued a $190.00 price objective on shares of Apple in a research note on Tuesday, June 11th. Finally, Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $208.06.

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.