Canandaigua National Bank & Trust Co. Raises Position in Apple Inc. (NASDAQ:AAPL)

Canandaigua National Bank & Trust Co. raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 139,337 shares of the iPhone maker’s stock after buying an additional 3,963 shares during the quarter. Apple comprises 3.1% of Canandaigua National Bank & Trust Co.’s portfolio, making the stock its 5th largest holding. Canandaigua National Bank & Trust Co.’s holdings in Apple were worth $32,466,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. raised its position in Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after purchasing an additional 42,282 shares during the period. Fountainhead AM LLC grew its holdings in Apple by 5.9% during the 1st quarter. Fountainhead AM LLC now owns 51,041 shares of the iPhone maker’s stock worth $8,753,000 after acquiring an additional 2,829 shares in the last quarter. SWP Financial LLC raised its stake in Apple by 23.6% in the first quarter. SWP Financial LLC now owns 42,691 shares of the iPhone maker’s stock worth $7,321,000 after buying an additional 8,158 shares in the last quarter. Concord Wealth Partners lifted its stake in shares of Apple by 16.7% during the 1st quarter. Concord Wealth Partners now owns 71,927 shares of the iPhone maker’s stock worth $12,334,000 after purchasing an additional 10,286 shares during the last quarter. Finally, Summit Place Financial Advisors LLC lifted its position in shares of Apple by 9.0% during the first quarter. Summit Place Financial Advisors LLC now owns 34,856 shares of the iPhone maker’s stock valued at $5,977,000 after buying an additional 2,867 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AAPL. New Street Research reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Tuesday, September 10th. The Goldman Sachs Group boosted their target price on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Robert W. Baird raised their target price on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays dropped their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.25.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock worth $92,007,745 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 0.1 %

Shares of AAPL opened at $228.28 on Wednesday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a fifty day moving average of $227.34 and a two-hundred day moving average of $217.31. The company has a market capitalization of $3.45 trillion, a PE ratio of 37.55, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the company posted $1.46 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is 16.45%.

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.