Apple Inc. (NASDAQ:AAPL) Stake Reduced by Farmers National Bank

Farmers National Bank lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,597 shares of the iPhone maker’s stock after selling 1,385 shares during the quarter. Apple makes up about 5.9% of Farmers National Bank’s portfolio, making the stock its 2nd biggest position. Farmers National Bank’s holdings in Apple were worth $19,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hershey Financial Advisers LLC acquired a new stake in shares of Apple in the 2nd quarter worth $42,000. Access Investment Management LLC acquired a new stake in shares of Apple in the 1st quarter worth $140,000. Hoese & Co LLP boosted its position in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares in the last quarter. Sage Financial Group Inc. acquired a new stake in shares of Apple in the 2nd quarter worth $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in shares of Apple in the 2nd quarter worth $208,000. Institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Robert W. Baird raised their price objective on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Wedbush restated an “outperform” rating and issued a $285.00 target price on shares of Apple in a research note on Monday, September 9th. Finally, The Goldman Sachs Group raised 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. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.51.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. The trade was a 35.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 404,040 shares of company stock worth $91,062,512 over the last 90 days. 0.06% of the stock is owned by insiders.

Apple Stock Performance

Shares of Apple stock opened at $225.00 on Monday. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company has a market cap of $3.40 trillion, a PE ratio of 37.01, a P/E/G ratio of 2.20 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The business has a 50-day simple moving average of $227.04 and a 200-day simple moving average of $216.61.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous year, the company posted $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

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.