City State Bank Sells 1,078 Shares of Apple Inc. (NASDAQ:AAPL)

City State Bank reduced its position in Apple Inc. (NASDAQ:AAPL) by 1.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 55,553 shares of the iPhone maker’s stock after selling 1,078 shares during the period. Apple accounts for approximately 4.7% of City State Bank’s holdings, making the stock its biggest holding. City State Bank’s holdings in Apple were worth $12,944,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Annex Advisory Services LLC raised its holdings in shares of Apple by 48.5% during the third quarter. Annex Advisory Services LLC now owns 298,608 shares of the iPhone maker’s stock worth $69,576,000 after purchasing an additional 97,567 shares during the period. Westend Capital Management LLC grew its position in shares of Apple by 1.4% during the 3rd quarter. Westend Capital Management LLC now owns 68,655 shares of the iPhone maker’s stock valued at $15,997,000 after buying an additional 971 shares during the last quarter. Matrix Asset Advisors Inc. NY raised its stake in Apple by 1.6% during the third quarter. Matrix Asset Advisors Inc. NY now owns 140,607 shares of the iPhone maker’s stock worth $32,761,000 after acquiring an additional 2,178 shares during the period. InTrack Investment Management Inc lifted its holdings in Apple by 2.1% in the third quarter. InTrack Investment Management Inc now owns 23,961 shares of the iPhone maker’s stock worth $5,583,000 after acquiring an additional 483 shares during the last quarter. Finally, Mechanics Bank Trust Department grew its holdings in shares of Apple by 85.2% during the third quarter. Mechanics Bank Trust Department now owns 271,007 shares of the iPhone maker’s stock valued at $63,145,000 after purchasing an additional 124,686 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Maxim Group boosted their price target on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a report on Friday, October 25th. Piper Sandler reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Finally, New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $235.68.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $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 have sold a total of 408,170 shares of company stock valued at $92,007,745 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 1.0 %

AAPL stock opened at $237.33 on Monday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.59 trillion, a P/E ratio of 39.03, a P/E/G ratio of 2.33 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.81. The company’s 50 day simple moving average is $229.02 and its 200-day simple moving average is $220.02.

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

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. Apple’s payout ratio is presently 16.45%.

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.