Apple Inc. (NASDAQ:AAPL) is Trust Co. of Toledo NA OH’s 2nd Largest Position

Trust Co. of Toledo NA OH increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 221,833 shares of the iPhone maker’s stock after purchasing an additional 9,868 shares during the period. Apple makes up about 6.8% of Trust Co. of Toledo NA OH’s portfolio, making the stock its 2nd biggest position. Trust Co. of Toledo NA OH’s holdings in Apple were worth $46,722,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in AAPL. Quent Capital LLC increased its position in Apple by 0.4% during the 2nd quarter. Quent Capital LLC now owns 129,362 shares of the iPhone maker’s stock valued at $27,246,000 after purchasing an additional 454 shares during the period. BancFirst Trust & Investment Management boosted its stake in shares of Apple by 22.4% during the second quarter. BancFirst Trust & Investment Management now owns 2,048 shares of the iPhone maker’s stock valued at $439,000 after purchasing an additional 375 shares in the last quarter. Westend Capital Management LLC increased its holdings in Apple by 5,126.6% during the second quarter. Westend Capital Management LLC now owns 67,684 shares of the iPhone maker’s stock valued at $14,671,000 after buying an additional 66,389 shares during the period. Benchmark Wealth Management LLC bought a new position in Apple in the second quarter worth approximately $208,000. Finally, Bank & Trust Co purchased a new stake in Apple during the second quarter worth $2,701,000. 60.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,884 shares of company stock valued at $38,092,387. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Apple in a research report on Monday, August 5th. Monness Crespi & Hardt boosted their target price on shares of Apple from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on shares of Apple from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Itau BBA Securities raised shares of Apple from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $162.00 to $188.00 in a research report on Friday, May 3rd. Finally, Bank of America reissued a “buy” rating and set a $230.00 target price on shares of Apple in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.63.

Apple Trading Up 0.1 %

Shares of Apple stock opened at $227.18 on Tuesday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The company has a market cap of $3.48 trillion, a P/E ratio of 35.33, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The firm has a 50-day simple moving average of $220.53 and a two-hundred day simple moving average of $194.75.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 145.35% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 earnings per share. As a group, equities analysts predict that Apple Inc. will post 6.61 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has initiated a stock repurchase program on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio is currently 15.55%.

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.