UMB Bank n.a. Has $318.76 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

UMB Bank n.a. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.0% in the third quarter, Holdings Channel.com reports. The fund owned 1,368,060 shares of the iPhone maker’s stock after selling 27,446 shares during the period. Apple makes up approximately 5.0% of UMB Bank n.a.’s portfolio, making the stock its 3rd biggest position. UMB Bank n.a.’s holdings in Apple were worth $318,758,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AAPL. Verus Financial Partners Inc. grew its stake in shares of Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares during the last quarter. Brown Financial Advisory grew its stake in shares of Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares during the last quarter. Core Wealth Management Inc. grew its stake in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares during the last quarter. Lowery Thomas LLC grew its stake in shares of Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. grew its stake in shares of Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on AAPL shares. Bank of America reaffirmed a “buy” rating and set a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. UBS Group lifted their price objective on Apple to $236.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Friday, November 1st. Tigress Financial lifted their price objective on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Melius Research reaffirmed a “buy” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $235.25.

Apple Price Performance

Shares of AAPL opened at $234.93 on Thursday. The firm has a market cap of $3.55 trillion, a PE ratio of 38.64, a P/E/G ratio of 2.28 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm has a fifty day simple moving average of $228.71 and a two-hundred day simple moving average of $219.12. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49.

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

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid 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 0.43%. Apple’s dividend payout ratio is presently 16.45%.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. 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.