Apple Inc. (NASDAQ:AAPL) Shares Sold by Community Trust & Investment Co.

Community Trust & Investment Co. cut its holdings in Apple Inc. (NASDAQ:AAPL) by 2.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 363,468 shares of the iPhone maker’s stock after selling 9,327 shares during the quarter. Apple comprises 5.6% of Community Trust & Investment Co.’s investment portfolio, making the stock its 3rd biggest holding. Community Trust & Investment Co.’s holdings in Apple were worth $91,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Bull Oak Capital LLC raised its holdings in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC purchased a new position in shares of Apple in the second quarter valued at $42,000. Christopher J. Hasenberg Inc raised its stake in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new position in shares of Apple during the 3rd quarter worth $71,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple in the 3rd quarter worth about $77,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of research reports. Raymond James lifted their target price on shares of Apple to $250.00 and gave the stock a “buy” rating in a research report on Monday, January 20th. Morgan Stanley set a $275.00 target price on Apple in a report on Tuesday, February 11th. Monness Crespi & Hardt boosted their price target on Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. UBS Group increased their price objective on Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, TD Cowen restated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $243.88.

Apple Price Performance

Apple stock opened at $247.04 on Wednesday. The firm has a fifty day moving average of $240.26 and a 200-day moving average of $233.34. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $3.71 trillion, a P/E ratio of 39.21, a PEG ratio of 2.44 and a beta of 1.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. Apple’s dividend payout ratio (DPR) is currently 15.87%.

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.