Fulton Bank N.A. Increases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Fulton Bank N.A. raised its holdings in Apple Inc. (NASDAQ:AAPL) by 0.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 289,970 shares of the iPhone maker’s stock after buying an additional 395 shares during the period. Apple makes up approximately 2.6% of Fulton Bank N.A.’s holdings, making the stock its 10th biggest holding. Fulton Bank N.A.’s holdings in Apple were worth $67,563,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AAPL. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after buying an additional 42,282 shares during the period. Blue Trust Inc. lifted its holdings in shares of Apple by 0.9% in the 1st quarter. Blue Trust Inc. now owns 128,418 shares of the iPhone maker’s stock worth $22,021,000 after buying an additional 1,106 shares during the period. Peterson Wealth Services lifted its holdings in shares of Apple by 1.8% in the 1st quarter. Peterson Wealth Services now owns 96,257 shares of the iPhone maker’s stock worth $16,506,000 after buying an additional 1,688 shares during the period. Fairhaven Wealth Management LLC lifted its holdings in shares of Apple by 17.9% in the 1st quarter. Fairhaven Wealth Management LLC now owns 79,503 shares of the iPhone maker’s stock worth $13,633,000 after buying an additional 12,097 shares during the period. Finally, KFA Private Wealth Group LLC lifted its holdings in shares of Apple by 6.0% in the 1st quarter. KFA Private Wealth Group LLC now owns 29,304 shares of the iPhone maker’s stock worth $5,025,000 after buying an additional 1,648 shares during the period. Institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of several research reports. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and upped their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Moffett Nathanson decreased their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research note on Tuesday. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research note on Friday, October 25th. New Street Research restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Finally, StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.25.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 0.6 %

Apple stock opened at $229.87 on Friday. The firm has a market cap of $3.47 trillion, a price-to-earnings ratio of 37.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The business’s 50-day moving average price is $227.73 and its 200 day moving average price is $217.81. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.46 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

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

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.