Apple Inc. (NASDAQ:AAPL) is Sanibel Captiva Trust Company Inc.’s 2nd Largest Position

Sanibel Captiva Trust Company Inc. lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 3.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 690,458 shares of the iPhone maker’s stock after selling 21,822 shares during the period. Apple makes up about 5.0% of Sanibel Captiva Trust Company Inc.’s investment portfolio, making the stock its 2nd largest position. Sanibel Captiva Trust Company Inc.’s holdings in Apple were worth $145,424,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Apple by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after acquiring an additional 18,067,216 shares during the period. Norges Bank purchased a new position in Apple during the fourth quarter valued at approximately $33,912,466,000. Wellington Management Group LLP boosted its position in shares of Apple by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after purchasing an additional 2,096,360 shares during the period. Fisher Asset Management LLC increased its stake in shares of Apple by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock worth $10,531,834,000 after purchasing an additional 1,067,587 shares in the last quarter. Finally, Capital International Investors raised its position in shares of Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after purchasing an additional 2,474,887 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related 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 completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock worth $23,723,887 in the last ninety days. 0.06% of the stock is owned by company insiders.

Apple Trading Down 0.3 %

AAPL opened at $228.20 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The stock has a market cap of $3.50 trillion, a price-to-earnings ratio of 35.49, a P/E/G ratio of 2.62 and a beta of 1.24. The stock’s 50 day moving average price is $222.41 and its 200-day moving average price is $200.19.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 earnings per share. On average, equities analysts forecast that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed 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 of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AAPL. Maxim Group reaffirmed a “hold” rating and issued a $203.00 target price on shares of Apple in a report on Tuesday, September 10th. Citigroup reaffirmed a “buy” rating and issued a $255.00 price objective on shares of Apple in a research note on Tuesday, August 27th. The Goldman Sachs Group lifted their target price on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. TD Cowen upped their price target on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Cfra lifted their price objective on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.17.

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.