American National Bank Has $32.97 Million Position in Apple Inc. (NASDAQ:AAPL)

American National Bank raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 14.1% in the 1st quarter, Holdings Channel reports. The firm owned 192,245 shares of the iPhone maker’s stock after purchasing an additional 23,827 shares during the quarter. Apple comprises about 4.4% of American National Bank’s investment portfolio, making the stock its 5th biggest holding. American National Bank’s holdings in Apple were worth $32,966,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wyrmwood Management LLC boosted its holdings in shares of Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares during the period. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple during the fourth quarter valued at $39,000. Gilfoyle & Co LLC boosted its holdings in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares during the period. University of Texas Texas AM Investment Managment Co. boosted its holdings in shares of Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares during the period. Finally, Clarity Asset Management Inc. acquired a new position in shares of Apple during the fourth quarter valued at $85,000. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

NASDAQ AAPL opened at $207.49 on Monday. The stock’s 50-day moving average price is $187.87 and its two-hundred day moving average price is $184.75. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The company has a market cap of $3.18 trillion, a PE ratio of 32.27, a PEG ratio of 2.55 and a beta of 1.25. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $220.20.

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

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.48%. The ex-dividend date was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is presently 15.55%.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AAPL. Canaccord Genuity Group boosted their price target on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Canaccord Genuity Group boosted their price target on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Saturday, May 4th. Citigroup reduced their price objective on shares of Apple from $220.00 to $210.00 and set a “buy” rating for the company in a report on Monday, April 29th. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $205.00 price objective on shares of Apple in a report on Thursday, June 6th. Finally, Tigress Financial upped their price objective on shares of Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $209.38.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the business’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 sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction that occurred on 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 directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The disclosure for this sale can be found here. In the last quarter, insiders have sold 346,270 shares of company stock worth $60,880,196. Company insiders own 0.06% of the company’s stock.

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.