Apple Inc. (NASDAQ:AAPL) is Security National Bank’s 5th Largest Position

Security National Bank trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 120,185 shares of the iPhone maker’s stock after selling 705 shares during the period. Apple makes up 3.8% of Security National Bank’s portfolio, making the stock its 5th biggest holding. Security National Bank’s holdings in Apple were worth $28,003,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Verus Financial Partners Inc. boosted its stake in Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after acquiring an additional 48 shares during the period. Brown Financial Advisory lifted its holdings in shares of Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares during the last quarter. Core Wealth Management Inc. lifted its stake in Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 50 shares during the last quarter. Lowery Thomas LLC boosted its stake in Apple by 0.7% during the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after purchasing an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. boosted its position in shares of Apple by 1.1% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AAPL. Tigress Financial upped their price objective on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Evercore ISI reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Tuesday, September 10th. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and increased their price target for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Two 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $235.25.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % 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 valued at $92,007,745 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 0.6 %

AAPL stock opened at $229.87 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm has a market cap of $3.47 trillion, a PE ratio of 37.81, a PEG ratio of 2.24 and a beta of 1.24. The company has a fifty day simple moving average of $227.73 and a 200 day simple moving average of $218.06. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.46 earnings per share. Sell-side analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s payout ratio 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.