Apple Inc. (NASDAQ:AAPL) Shares Sold by VeraBank N.A.

VeraBank N.A. lessened its stake in Apple Inc. (NASDAQ:AAPL) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,426 shares of the iPhone maker’s stock after selling 1,810 shares during the quarter. Apple makes up approximately 4.1% of VeraBank N.A.’s portfolio, making the stock its 5th biggest holding. VeraBank N.A.’s holdings in Apple were worth $13,148,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of AAPL. Foresight Capital Management Advisors Inc. grew its holdings in shares of Apple by 0.3% during the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after buying an additional 55 shares during the last quarter. Altus Wealth Management LLC boosted its holdings in Apple by 0.6% in the second quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock worth $2,002,000 after purchasing an additional 55 shares during the last quarter. Hoese & Co LLP boosted its holdings in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Stableford Capital II LLC boosted its holdings in Apple by 0.3% in the first quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after purchasing an additional 59 shares during the last quarter. Finally, Whitcomb & Hess Inc. boosted its holdings in Apple by 1.7% in the second quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock worth $746,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Trading Up 0.1 %

NASDAQ AAPL opened at $227.79 on Friday. The company has a fifty day simple moving average of $222.12 and a two-hundred day simple moving average of $201.57. The stock has a market cap of $3.49 trillion, a P/E ratio of 35.43, a P/E/G ratio of 2.66 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

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

Apple Announces Dividend

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. The ex-dividend date 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%.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were 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 owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were 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 owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction 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 transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Apple in a research report on Thursday, September 19th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 price target on shares of Apple in a research note on Monday, September 9th. The Goldman Sachs Group boosted their price target on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Robert W. Baird boosted their target price on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, TD Cowen upped their price target on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $238.76.

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.