Apple Inc. (NASDAQ:AAPL) is First American Bank’s Largest Position

First American Bank boosted its position in Apple Inc. (NASDAQ:AAPL) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 663,661 shares of the iPhone maker’s stock after purchasing an additional 5,842 shares during the period. Apple comprises approximately 11.1% of First American Bank’s holdings, making the stock its largest position. First American Bank’s holdings in Apple were worth $154,633,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Bull Oak Capital LLC boosted its stake in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new stake in Apple during the second quarter worth $42,000. Christopher J. Hasenberg Inc grew its holdings in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. Cordant Inc. increased its position in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 173 shares in the last quarter. Finally, Sage Financial Group Inc. acquired a new position in shares of Apple during the 2nd quarter worth $206,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of a number of research reports. Wedbush increased their price objective on shares of Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. New Street Research restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Citigroup increased their target price on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $237.47.

Apple Price Performance

Shares of NASDAQ AAPL opened at $255.59 on Friday. The company has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The business has a 50-day moving average of $237.41 and a 200-day moving average of $227.65.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (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 the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 EPS. On average, equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.39%. Apple’s dividend payout ratio is presently 16.45%.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. The trade was a 24.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 508,170 shares of company stock valued at $117,004,745. Insiders own 0.06% of the company’s stock.

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.