Community Bank of Raymore Buys 1,785 Shares of Apple Inc. (NASDAQ:AAPL)

Community Bank of Raymore grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 8.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,534 shares of the iPhone maker’s stock after acquiring an additional 1,785 shares during the quarter. Apple comprises approximately 1.8% of Community Bank of Raymore’s portfolio, making the stock its 16th biggest position. Community Bank of Raymore’s holdings in Apple were worth $3,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Retirement Planning Group LLC increased its position in shares of Apple by 6.5% during the first quarter. Retirement Planning Group LLC now owns 91,275 shares of the iPhone maker’s stock valued at $15,652,000 after acquiring an additional 5,596 shares in the last quarter. Legacy Wealth Management Inc bought a new stake in shares of Apple in the 1st quarter worth $323,000. Bourne Lent Asset Management Inc. raised its stake in shares of Apple by 0.3% in the first quarter. Bourne Lent Asset Management Inc. now owns 136,067 shares of the iPhone maker’s stock worth $23,333,000 after purchasing an additional 420 shares during the last quarter. Central Valley Advisors LLC lifted its holdings in shares of Apple by 0.8% during the first quarter. Central Valley Advisors LLC now owns 64,950 shares of the iPhone maker’s stock valued at $11,137,000 after purchasing an additional 544 shares in the last quarter. Finally, Axiom Advisory LLC boosted its position in shares of Apple by 5.2% during the first quarter. Axiom Advisory LLC now owns 7,793 shares of the iPhone maker’s stock valued at $1,336,000 after buying an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Citigroup lowered their target price on shares of Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and boosted their target price for the company from $200.00 to $230.00 in a research note on Tuesday, June 11th. UBS Group restated a “neutral” rating and issued a $190.00 price target on shares of Apple in a research note on Tuesday, June 11th. Finally, Itau BBA Securities upgraded Apple from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $162.00 to $188.00 in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $215.71.

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction that occurred 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 completion of the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction 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 sale, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 247,087 shares of company stock worth $44,016,111. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $210.62 on Monday. The stock has a market capitalization of $3.23 trillion, a PE ratio of 32.76, a P/E/G ratio of 2.56 and a beta of 1.25. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $220.20. The business has a 50 day simple moving average of $192.13 and a two-hundred day simple moving average of $185.31. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share 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 company had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. During the same quarter in the previous year, the business posted $1.52 earnings per share. Apple’s quarterly revenue was down 4.3% on a year-over-year basis. On average, research analysts predict that Apple Inc. will post 6.59 EPS for the current fiscal year.

Apple Increases Dividend

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

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

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.