Apple Inc. (NASDAQ:AAPL) Shares Sold by First Financial Bank Trust Division

First Financial Bank Trust Division trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 10.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,455 shares of the iPhone maker’s stock after selling 18,145 shares during the quarter. Apple makes up about 2.5% of First Financial Bank Trust Division’s portfolio, making the stock its 8th largest holding. First Financial Bank Trust Division’s holdings in Apple were worth $26,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after acquiring an additional 18,067,216 shares during the period. Morgan Stanley increased its position in Apple by 1.0% in the 3rd quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock valued at $35,394,751,000 after acquiring an additional 2,018,010 shares during the period. Norges Bank acquired a new position in Apple in the 4th quarter valued at approximately $33,912,466,000. International Assets Investment Management LLC increased its position in Apple by 14,395.4% in the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after acquiring an additional 70,212,651 shares during the period. Finally, Wellington Management Group LLP increased its position in Apple by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after acquiring an additional 2,096,360 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the sale, the senior vice president now owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders sold a total of 346,270 shares of company stock worth $60,880,196 over the last quarter. Insiders own 0.06% of the company’s stock.

Apple Stock Down 1.1 %

Apple stock opened at $214.29 on Wednesday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $220.20. The firm has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 2.59 and a beta of 1.25. The firm’s fifty day moving average price is $185.62 and its two-hundred day moving average price is $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 released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm earned $1.52 earnings per share. On average, equities research analysts predict that Apple Inc. will post 6.58 earnings per share for the current fiscal year.

Apple announced that its board has initiated a share repurchase program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Apple Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday. Loop Capital decreased their price objective on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Tigress Financial increased their price objective on shares of Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 30th. Rosenblatt Securities reiterated a “neutral” rating and set a $196.00 price objective on shares of Apple in a research report on Tuesday, June 11th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $216.00 price objective on shares of Apple in a research report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.