Apple Inc. (NASDAQ:AAPL) Shares Bought by Greenfield Savings Bank

Greenfield Savings Bank lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 68,568 shares of the iPhone maker’s stock after buying an additional 338 shares during the quarter. Apple comprises about 7.4% of Greenfield Savings Bank’s portfolio, making the stock its largest holding. Greenfield Savings Bank’s holdings in Apple were worth $14,442,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of AAPL. Burkett Financial Services LLC raised its position in shares of Apple by 0.9% in the 2nd quarter. Burkett Financial Services LLC now owns 14,024 shares of the iPhone maker’s stock valued at $2,954,000 after buying an additional 126 shares in the last quarter. NBC Securities Inc. grew its holdings in shares of Apple by 0.7% during the 2nd quarter. NBC Securities Inc. now owns 189,197 shares of the iPhone maker’s stock valued at $39,848,000 after purchasing an additional 1,285 shares during the last quarter. Linden Thomas Advisory Services LLC grew its holdings in shares of Apple by 15.4% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 38,082 shares of the iPhone maker’s stock valued at $8,021,000 after purchasing an additional 5,077 shares during the last quarter. RDA Financial Network grew its holdings in shares of Apple by 2.8% during the 2nd quarter. RDA Financial Network now owns 40,786 shares of the iPhone maker’s stock valued at $8,590,000 after purchasing an additional 1,124 shares during the last quarter. Finally, Matrix Trust Co grew its holdings in shares of Apple by 2.4% during the 2nd quarter. Matrix Trust Co now owns 12,046 shares of the iPhone maker’s stock valued at $2,537,000 after purchasing an additional 280 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AAPL shares. Canaccord Genuity Group boosted their target price on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Cfra upped their price objective on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Raymond James upped their price objective on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. UBS Group reiterated a “neutral” rating and set a $190.00 target price on shares of Apple in a research report on Monday, July 1st. Finally, Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $237.30.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock valued at $23,723,887 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 1.5 %

AAPL opened at $229.79 on Friday. 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 Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The company has a market capitalization of $3.52 trillion, a PE ratio of 35.74, a PEG ratio of 2.60 and a beta of 1.24. The firm’s 50 day simple moving average is $221.05 and its two-hundred day simple moving average is $195.24.

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

Apple Announces Dividend

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

Apple announced that its board has authorized a stock repurchase program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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.