Adirondack Trust Co. Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Adirondack Trust Co. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the third quarter, Holdings Channel.com reports. The firm owned 72,392 shares of the iPhone maker’s stock after selling 380 shares during the period. Apple comprises 6.5% of Adirondack Trust Co.’s portfolio, making the stock its 2nd largest holding. Adirondack Trust Co.’s holdings in Apple were worth $16,867,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. 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 buying an additional 42,282 shares during the last quarter. Smart Money Group LLC grew its stake in shares of Apple by 28.5% in the first quarter. Smart Money Group LLC now owns 6,309 shares of the iPhone maker’s stock worth $1,075,000 after acquiring an additional 1,400 shares during the period. Mutual Advisors LLC raised its holdings in shares of Apple by 7.0% during the first quarter. Mutual Advisors LLC now owns 674,326 shares of the iPhone maker’s stock valued at $115,633,000 after purchasing an additional 44,374 shares during the last quarter. Integrity Financial Corp WA lifted its position in Apple by 5.8% during the first quarter. Integrity Financial Corp WA now owns 29,400 shares of the iPhone maker’s stock valued at $5,041,000 after purchasing an additional 1,622 shares during the period. Finally, Patron Partners LLC boosted its holdings in Apple by 0.6% in the first quarter. Patron Partners LLC now owns 48,158 shares of the iPhone maker’s stock worth $8,258,000 after purchasing an additional 265 shares during the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

AAPL opened at $235.06 on Wednesday. The firm’s fifty day simple moving average is $228.43 and its two-hundred day simple moving average is $219.01. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a market cap of $3.55 trillion, a price-to-earnings ratio of 38.66, a PEG ratio of 2.25 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the prior year, the firm earned $1.46 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal 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 paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s dividend payout ratio (DPR) is 16.45%.

Analyst Ratings Changes

Several research analysts have issued reports on AAPL shares. Maxim Group raised their target price on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Moffett Nathanson dropped their price objective on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a report on Tuesday, November 19th. Evercore ISI reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Oppenheimer reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Finally, Barclays decreased their target price 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 given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $235.25.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of the business’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 transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 in the last 90 days. Insiders own 0.06% of the company’s stock.

Apple Company 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.