Apple Inc. (NASDAQ:AAPL) is Field & Main Bank’s 2nd Largest Position

Field & Main Bank reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 1.5% during the second quarter, Holdings Channel.com reports. The fund owned 78,925 shares of the iPhone maker’s stock after selling 1,177 shares during the quarter. Apple accounts for 6.2% of Field & Main Bank’s investment portfolio, making the stock its 2nd largest holding. Field & Main Bank’s holdings in Apple were worth $16,623,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Foresight Capital Management Advisors Inc. boosted its stake in Apple by 0.3% during the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after purchasing an additional 55 shares during the period. Altus Wealth Management LLC grew its position in Apple by 0.6% in the second quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock worth $2,002,000 after buying an additional 55 shares during the last quarter. Hoese & Co LLP grew its holdings in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the last quarter. Stableford Capital II LLC raised its holdings in Apple by 0.3% during the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after buying an additional 59 shares during the period. Finally, Whitcomb & Hess Inc. raised its holdings in shares of Apple by 1.7% during the second quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock valued at $746,000 after acquiring an additional 59 shares during the period. 60.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AAPL has been the subject of a number of research reports. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Moffett Nathanson began coverage on Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Apple in a report on Tuesday, September 10th. Barclays lowered their target price on Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $261.00 target price on shares of Apple in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $238.76.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s 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 completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock worth $23,723,887 over the last three months. Insiders own 0.06% of the company’s stock.

Apple Trading Up 0.1 %

NASDAQ:AAPL opened at $227.79 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The firm has a market capitalization of $3.49 trillion, a price-to-earnings ratio of 35.43, a PEG ratio of 2.66 and a beta of 1.24. The business’s 50-day moving average price is $222.19 and its two-hundred day moving average price is $202.38.

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

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

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.