Northwest Bank & Trust Co Has $15.71 Million Stake in Apple Inc. (NASDAQ:AAPL)

Northwest Bank & Trust Co decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 10.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,228 shares of the iPhone maker’s stock after selling 11,230 shares during the quarter. Apple comprises approximately 14.1% of Northwest Bank & Trust Co’s portfolio, making the stock its biggest holding. Northwest Bank & Trust Co’s holdings in Apple were worth $15,709,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Christopher J. Hasenberg Inc bought a new position in shares of Apple in the first quarter worth approximately $35,000. A.P. Gilfoyle & Co. L.P. purchased a new position in Apple in the 4th quarter worth approximately $39,000. Gilfoyle & Co LLC increased its holdings in shares of Apple by 168.0% in the 4th quarter. Gilfoyle & Co LLC now owns 268 shares of the iPhone maker’s stock worth $52,000 after buying an additional 168 shares during the last quarter. University of Texas Texas AM Investment Managment Co. raised its position in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. bought a new stake in shares of Apple during the 4th quarter worth $85,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. Robert W. Baird increased their price objective on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Canaccord Genuity Group increased their price target on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Morgan Stanley reissued an “overweight” rating and set a $273.00 price target on shares of Apple in a research note on Tuesday, August 6th. Oppenheimer upped their price objective on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, June 28th. Finally, Rosenblatt Securities lifted their target price on shares of Apple from $260.00 to $261.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $233.63.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold 188,884 shares of company stock valued at $38,092,387 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 0.8 %

Shares of NASDAQ:AAPL opened at $224.53 on Friday. The firm has a market capitalization of $3.44 trillion, a P/E ratio of 34.92, a P/E/G ratio of 2.60 and a beta of 1.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The stock has a 50 day moving average price of $220.03 and a 200-day moving average price of $194.13. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 145.35% and a net margin of 26.44%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 6.61 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s payout ratio is 15.55%.

Apple declared that its board has initiated a stock repurchase program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Apple 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.