Apple Inc. (NASDAQ:AAPL) is Community Trust & Investment Co.’s 3rd Largest Position

Community Trust & Investment Co. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 367,112 shares of the iPhone maker’s stock after selling 6,550 shares during the quarter. Apple comprises approximately 5.3% of Community Trust & Investment Co.’s portfolio, making the stock its 3rd biggest holding. Community Trust & Investment Co.’s holdings in Apple were worth $77,321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in AAPL. Christopher J. Hasenberg Inc acquired a new stake in shares of Apple during the first quarter worth $35,000. A.P. Gilfoyle & Co. L.P. acquired a new position in Apple in the fourth quarter valued at $39,000. University of Texas Texas AM Investment Managment Co. lifted its position in 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 worth $82,000 after buying an additional 368 shares during the period. Clarity Asset Management Inc. acquired a new stake in Apple in the 4th quarter worth about $85,000. Finally, Clear Street Markets LLC grew its holdings in 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 buying an additional 83,965 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

AAPL opened at $222.50 on Friday. The stock has a 50-day moving average of $223.14 and a 200-day moving average of $198.52. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The company has a market cap of $3.38 trillion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24.

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

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is 15.55%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and set a $273.00 price objective on shares of Apple in a report on Tuesday. TD Cowen increased their price target on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price objective on shares of Apple in a research note on Tuesday. Maxim Group restated a “hold” rating and set a $203.00 price objective on shares of Apple in a report on Tuesday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $261.00 target price on shares of Apple in a report on Tuesday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $238.62.

Insider Transactions at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s 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 sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. In the last three months, insiders sold 113,884 shares of company stock valued at $23,723,887. 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.