Bremer Bank National Association Sells 10,307 Shares of Apple Inc. (NASDAQ:AAPL)

Bremer Bank National Association decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 10.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,103 shares of the iPhone maker’s stock after selling 10,307 shares during the period. Apple accounts for approximately 3.5% of Bremer Bank National Association’s holdings, making the stock its 4th biggest holding. Bremer Bank National Association’s holdings in Apple were worth $18,135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new stake in shares of Apple in the 1st quarter valued at approximately $35,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Apple in the 4th quarter valued at approximately $39,000. University of Texas Texas AM Investment Managment Co. raised its position in shares of Apple by 657.1% in the 4th 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. Clarity Asset Management Inc. acquired a new stake in shares of Apple in the 4th quarter valued at approximately $85,000. Finally, Clear Street Markets LLC raised its position in shares of Apple by 100.6% in the 4th quarter. Clear Street Markets LLC now owns 483 shares of the iPhone maker’s stock valued at $93,000 after acquiring an additional 83,965 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity

In related news, insider Chris Kondo sold 5,178 shares of the firm’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 value of $1,121,037.00. Following the sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock valued at $23,723,887 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 0.4 %

NASDAQ AAPL opened at $220.11 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The firm has a market capitalization of $3.35 trillion, a PE ratio of 34.23, a P/E/G ratio of 2.60 and a beta of 1.24. The stock’s 50 day moving average is $223.17 and its 200 day moving average is $197.89.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the previous year, the company posted $1.26 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts forecast that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and increased their price target for the company from $170.00 to $300.00 in a research report on Monday, July 15th. Rosenblatt Securities reissued a “buy” rating and set a $261.00 target price on shares of Apple in a research note on Tuesday. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday. The Goldman Sachs Group increased their target price on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Wedbush reissued an “outperform” rating and set a $285.00 target price on shares of Apple in a research note on Monday. 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’s stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $238.62.

Apple Company 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.